We have the same signals coming from the chart and prices now finding support at EMA100.
Now, will EMA100 hold or not?
I asked the same question on the Bitcoin article below...
EMA100 is likely to break as support based on the following signals:
1) The is trading below zero and showing a cross.
2) The entered the zone while trending lower.
These pairs, ETHUSD and BTCUSD , grew massively after the low in March 2020... It is normal to have a strong correction after so much growth.
Don't get me wrong...
You still need to prepared for change at any given time, what would you do if prices go up?
Conditions for change
ETHUSD is aiming lower but this scenario can change.
If prices move back up and close above EMA50, most of these signals are invalidated and a new analysis is needed.
Any trading below EMA50 and we continue to expect lower prices.
This is not financial advice.
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