ETH Decision Time

٢٨ مايو ٢٠٢١

ETH is currently back into a range or ascending wedge that has been valid since $376. Weekly close above this lower trend line in my opinion would be a strong indicator of continuation to the upside. Weekly close below this trend line would not be good. The 0.5 EMA sits right at the lower trend line. Maybe a bear trap to the 0.618 prior to weeks end and shoot up to close weekly candle. Seems like a possible good long position. Also the weekly 20EMA has held as good support.

This is my opinion on what I see in the macro picture. I personally am still bullish with ETH, BTC, and ALTS. Take care.