First, we have Ethereum (ETHUSD) on the daily timeframe.
This is how things are looking based on candlestick reading:
The bigger trend is down, so whenever you see a pullback/bounce, you can use it to sell.
Here is the bigger trend:
Let's have a look at the weekly chart:
Notice the hammer with a negative nine (-9), a reversal signal but resistance is met right at EMA10.
Now we have a bearish/red candle this week with prices moving below EMA50.
The EMA50 detail is very important.
This indicator is sitting right now at $2954, trading below it is always bearish.
The weekly candle closes in less than 8 hours.
Closing below EMA50 can signal that prices will drop.
Conditions for change
Seeing ETHUSD trading above the bigger trend line would favor the bulls.
Wishing you a nice Sunday.
Namaste.
This is how things are looking based on candlestick reading:
The bigger trend is down, so whenever you see a pullback/bounce, you can use it to sell.
Here is the bigger trend:
Let's have a look at the weekly chart:
Notice the hammer with a negative nine (-9), a reversal signal but resistance is met right at EMA10.
Now we have a bearish/red candle this week with prices moving below EMA50.
The EMA50 detail is very important.
This indicator is sitting right now at $2954, trading below it is always bearish.
The weekly candle closes in less than 8 hours.
Closing below EMA50 can signal that prices will drop.
Conditions for change
Seeing ETHUSD trading above the bigger trend line would favor the bulls.
Wishing you a nice Sunday.
Namaste.
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lamatrades.com (Since 2017)
🔝 Altcoins & Bitcoin Charts! (Special offers & discounts)
t.me/alansantana1111
🚨 Free PREMIUM Trade-Numbers
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