Ethereum Ready To Move Lower (Goes Below EMA10)

4 dic 2020

Hello, my favorite cryptocurrency trader... Here we go again.

I will keep this one short because I am on "vacation", AKA, reading, studying, exercising, and work...

Anyways, we already know that Bitcoin (BTCUSD) is now bearish as well as Ripple (XRPUSD), the same is happening with Ethereum (ETHUSD).

We can see prices moving below EMA10 just before the day closes.

Closing below this level means "signal confirmed".
In this case, a bearish signal.

The RSI is trending down.
The MACD is trending down after both showed bearish divergence.

The red/bear volume bars are bigger/higher than the green bars... You see, we don't need to be "experts" here... We just look at the charts for repeating patterns and "signals" and use these to try and predict what will happen next.

Based on these signals...
We will see ETHUSD drop to at least $486 or more...
We will see how it goes, the daily candle hasn't close and that's when the signal is confirmed.

Conditions for change | If prices move back above EMA10...
We can continue waiting, tracking, but the potential for a drop remains and stays strong unless the last high is taken out.

ETHUSD is likely to move lower now.

Namaste.