Hi everyone,
this will show you my take on what is happening on the ETH daily.
- Mid July we managed to get back above the EMA50 and are just retesting it. Might not look like it with candles, but is nicely visible, when set to line chart.
- Merge is happening very soon. Yes we just dipped a bit for the EMA50 retest, but I think ETH will be drawn towards EMA200 next, which is a likely move in a couple of ways:
a: its the single most important EMA to be tested after crossing the EMA50
b: EMA200 is now below 2150-2200 resistance zone and is about to collide with the upper boundary trendline, we get from connecting the highs from end of 2021 and early April 2022; plus its around the upper end of the current channel --> testing EMA200 = testing trendline = testing upper end of the channel
c: EMA20/50/100 are compressing nicely at the moment, so some move is imminent
d: price action and RSI have a similar feel to them (although on slightly smaller scale) as Aug-Oct 2021
What happens after that comes down to Macro + how the Merge went.
If all goes well, I can imagine a tap into the 2300-2450 zone post-launch as a possible breakout from the trendline mentioned above.
We would then retest said trendline at a later point in time, that might very well coincide with the date on which staked ETH being released and re-entering to the market.
- Benayman
this will show you my take on what is happening on the ETH daily.
- Mid July we managed to get back above the EMA50 and are just retesting it. Might not look like it with candles, but is nicely visible, when set to line chart.
- Merge is happening very soon. Yes we just dipped a bit for the EMA50 retest, but I think ETH will be drawn towards EMA200 next, which is a likely move in a couple of ways:
a: its the single most important EMA to be tested after crossing the EMA50
b: EMA200 is now below 2150-2200 resistance zone and is about to collide with the upper boundary trendline, we get from connecting the highs from end of 2021 and early April 2022; plus its around the upper end of the current channel --> testing EMA200 = testing trendline = testing upper end of the channel
c: EMA20/50/100 are compressing nicely at the moment, so some move is imminent
d: price action and RSI have a similar feel to them (although on slightly smaller scale) as Aug-Oct 2021
What happens after that comes down to Macro + how the Merge went.
If all goes well, I can imagine a tap into the 2300-2450 zone post-launch as a possible breakout from the trendline mentioned above.
We would then retest said trendline at a later point in time, that might very well coincide with the date on which staked ETH being released and re-entering to the market.
- Benayman