Ethereum Ready 4 Profits? Slowly Creeping Above Resistance

We know that Bitcoin (BTCUSD) & Ethereum (ETHUSD) go hand in hand but sometimes one pair is easier to read than the other.

Looking at Ethereum on the 4H timeframe, we have some signals that are leaning towards the bulls... Let's take a look at those now:

• We can see prices for ETHUSD now trading above EMA10 and EMA50.
  
• Volume is still low, but it is the weekend which is normal.
  
• Higher low printed.
  
• Strong volume when the 18-Dec. low came in.
  
• Strong/bullish RSI.
  

The bullish scenario is green. If things continue the way they are going, ETHUSD is likely to follow the green arrow.

Conditions for change
If EMA10 breaks and ETHUSD moves lower, the black trendline at the bottom will work as support, only if this trendline breaks ETH goes lower. Right now, the bulls have the upper hand.

Remember open to change and always be ready with a plan/strategy before you trade.

Thanks a lot for reading.

This is Alan Masters

Namaste.

Comment:

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