Ethereum Stays Bullish in Long Run

Ethereum still stays bullish in long run. The price is above SMA50 and the uptrend line. We can expect that the price will bounce from SMA50 and start a new upward movement. The market will be able to reach the uptrend line also, but it won’t break the structure of the bullish market. For confirmation further uptrend the price will have to break the downtrend line, like it was with the previous line, and move above 850.00 level. It’s the local swing high. In such way we’ll have higher highs and higher lows which will confirm the uptrend in long run.

If we look at RSI, the market can continue a downward movement. The support zone, which is formed by the uptrend line and 400.00 support level, can be reached. It’s rather strong zone and the market can bounce from it and move higher.
MACD is still bearish and for confirmation the upward movement we should wait for histogram reversal at least.
DMI shows that the market is going to move in sideway. We don’t have confirmations that bears or bulls are strong.

In spite of indicators are still bearish, we don't have confirmation for strong downward movement. We should consider that the market can be stopped at the support zone and it will start moving upward after period in consolidation.