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Ethereum 4H TimeFrame Breaks Below MA200 (Support Mapped)

BITMEX:ETHUSD   ETHUSD Perpetual Futures Contract
Here we are seeing Ethereum ( ETHUSD ) play with the MA200/Black line and prices now trading below it, this is a bearish signal.

The tendency is bearish and we also have a broken trendline .

The trading volume is also low which can lead to a sudden move.

Halfway through Wednesday, we can see this move start to fully take form.

The MACD is bearish below the zero line and trending lower.
The RSI is also trending down.

ETHUSD looks bearish on the 4H timeframe.

Conditions for change
If prices move up and produce a higher high compared to the 24-May peak, we can start to consider the bullish view short-term.
But if prices remain below EMA100, EMA50, MA200, and EMA100, we remain bearish .

The next immediate support is sitting at $198.50 or EMA200, followed by $193.80 or EMA300.

This is not financial advice.

Namaste.
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Comments

So it broke the trendline. You said the MACD is bearish and that it and the RSI are trending down. And yet from the time you wrote this Ethereum is up almost 20%. Your analysis scared me from buying again. I keep thinking you must know more than me but you don't.
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I Expect a possible drop!
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