Ethereum didn't make any powerful moves on the news, but it did manage to quietly sneak above the top of the . Looking at the four hour chart, we can see that ETH will soon have to contend with the 50 (in orange,) if it continues to tiptoe higher. On the , we can see that there has been a crossover, and recent has been mostly controlled by the buyers. At this point, traders should pay close attention to the 50 and the top of the . If Eeth has a sustained breakout above the 50, that could be confirming evidence that the breakout is real. Such a move, would also increase the likelihood that we may have just formed a higher low, and we could then assess the possibility of a higher high. However, if ETH falls back into the , that would clearly indicate a failed breakout, and a lower low would still be expected.
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***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
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