Ethereum Tests Support Levels But Remain Bullish

ETHBTC (Ethereum) just had a strong correction but the chart remains bullish.

We can see a long lower wick/shadow on today's candle, that went all the way down to MA200/EMA21, EMA10, and EMA50.

All these are strong support levels and we can see ETHBTC staying above.

Note: The daily candle is still active and the price can change (going lower or higher)... This analysis is only confirmed after the daily candle closes.

If the daily candle closes below these levels, MA200 and EMA21... Then we are very likely to see lower prices for ETHBTC.
If ETHBTC stays above EMA10 and EMA50, which is what we are seeing now... The bulls remain in control.

We have a strong RSI which also favors the bulls.

In summary

• We have green above MA200.
  
• We get red below MA200.
  

We are feeling GREEN!

Namaste.

Kommentar:

☘️ PATIENCE IS KEY!

The altcoins market moves in cycles...

We have very bad days but also very good ones.

The cycles cannot be measured in hours.

Charts cannot be expected to move in just days.

For us to know the next phase, it can take multiple weeks...

It is always wise to wait.

Patience is the key to win.

That is what I always say.

Namaste.