We have Ethereum (ETHBTC) bouncing and moving above EMA10 and EMA100 after a short retrace.
This bounce is interesting because ETHBTC started to reverse before hitting the EMA200/MA200 lines... We are likely to visit the last high on this bounce.
Another point in favor of the bulls is the 0.5 Fib. retracement support where prices bounced. This is a strong level that can work as support on bullish cycles.
Conditions for change If EMA50, the next resistance, becomes too strong and ETHBTC can't break it, we will see lower prices right away.
The different potential scenarios are clearly depicted in the above chart.
Nice analysis Alan, appreciate the time you take on these. I've learnt a lot reading your analysis.
Very interested to see how the Ether price plays out over the next few years
Cheers
PC
huypham0408
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Thank you Alan
AlanSantana
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@huypham0408, The last few articles didn't get much support so people are no longer interested... I will wait for the charts to change before posting again.
Very interested to see how the Ether price plays out over the next few years
Cheers
PC