My Fellow Crypto Traders,
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ANALYSIS:
ETH has flashed bullish with the 9EMA crossover to the upside. If ETH continues with this positive price action to the upside, and volume remains to trend downward, we can see ETH retest VWAP (turquoise)/ lower parallel channel wall or previous support @ $1062 region. The multiple overhead resistance trend lines around the $1250 region could restrict further continuation to the upside. Therefore builds confluence with a dip down to lower regions of support. Moreover, the VWAP and the previous diagonal trend line (1) seem to be converging towards the 236 fib level, which builds further confluence with a possible dip towards those levels.
Appreciate you taking the time to view my analysis which I hope you may find beneficial. Please be sure to “LIKE” if you indeed find my analysis useful and/or find my analysis intriguing.
Cheers & Happy Trading!
____________________________________________________________________________________________
ANALYSIS:
ETH has flashed bullish with the 9EMA crossover to the upside. If ETH continues with this positive price action to the upside, and volume remains to trend downward, we can see ETH retest VWAP (turquoise)/ lower parallel channel wall or previous support @ $1062 region. The multiple overhead resistance trend lines around the $1250 region could restrict further continuation to the upside. Therefore builds confluence with a dip down to lower regions of support. Moreover, the VWAP and the previous diagonal trend line (1) seem to be converging towards the 236 fib level, which builds further confluence with a possible dip towards those levels.
If the $976 support level fails to hold, ETH can dip down towards $880 to find footing to make another leg up towards new ATH.