And the bull trend continues! I said in my last analysis that the bulls are very strong here, and they keep seeking for previous resistances to break. If you missed my previous analysis, the link to it is below, as usual, and I invite you to follow me to keep in touch.
Now ETH is finally trading above the yellow line, and it seems it is going to hit the pink line at $ 227. Let’s see the daily chart for a better view:
Yes, things seem very bullish from here too. ETH respected the purple trendline, resumed the bullish trend after it moved sideways for a while, and now it’s triggering a pivot, and is also trading above the yellow line we mentioned earlier, and is trading above the 21 ema. A lot of bullish signs here!
Even the volume, which was bugging me, seems to be increasing now, as the trend resumes. In the end, ETH is still more bullish than bearish in my view, but we can’t discard completely the possibility of some pullback ahead (maybe to the yellow line again), and it would be a natural and acceptable move, so ETH can gather the strength to hit the $ 252 again.
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