ETHEREUM (ETH/USD) Is On The Mixed Area!

Ethereum is on the mixed sings area so, be careful. What does it mean?

We have several bullish signs but we have also a bearish sign. Let's start from bullish signs:
1. The Ethereum price makes still the perfect higher lows (HL) which will indicate that the upwards momentum is on the chart. It means that buyers are earlier on the market and it makes those lows higher, they just don't want to see lower prices.
2. We have a breakout above the short-term counter trendline. Since September 22 ETH' has slowly moved downwards and it has made lower highs but yesterday it made a confirmed break above this trendline which will indicate that the bullish momentum may continue.

Bearish sings:
1. The price is still below the short-term upwards trendline. Yes, it makes higher lows but the strong momentum has gone but we slowly start to pick this up again.
2. The price is still below the 200 EMA and below the strong resistance. The resistance, the short term upwards trendline, and the 200 EMA makes a crossing area. To see a powerfully bullish Ethereum we have to break down this crossing area but this is hard because several price action criteria matching each other in the one price level and as you know those levels are very hard to beat and it needs a lot of power.

So, the resistance is strong and the support is strong (support consists: strong support (blue line), short-term counter trendline works as a support). Break out from either blue lines will guide us to the next move!


If You are interested in the latest cryptocurrency news, coin reviews and breaking stories from the world of blockchain then visit our website! (The LINK is on the profile)

Hopefully, this analysis helped You out a little bit to confirm your own analysis and if You appreciate what we do here then hit the LIKE button!

Best regards!