Ethereum
Similar to the Bitcoin chart that I posted prior. There is an uptrend that is present on $ETH from late June to July 5th (the day before me writing this; it is 5:00 a.m. July 6th currently).
However, this does not mean that we are now in an uptrend. Price appears to be consolidating for the time being.
EMA-100 did not hold as support at all.
EMA-200 hovers overhead a fair distance above at $500 on the 4H TF.
Let’s Look at These EMA Indicators on the 1D TF.
Above, I have the EMA-200, EMA-100, and EMA-50 plotted and outlined as well for easy identification.
As you can see — above there is a death cross (usually does not take affect until later).
If you’re completely lost as to why EMA indicators are fantastic predictors of resistance/support, check out this article that I wrote on it:
The closest overhead resistance on the daily though, in terms of EMA, is the EMA-26, which you can spot here:
As you can see, it appears almost as if it has been trending directly over top of the price for quite some time.
As you can see above, a break here would definitely be very meaningful.
Conclusion / Verdict
In my opinion, ETH is another one that could be due for a SERIOUS bounce soon. It just seems like it’s a matter of time before that one gets loose and then gets to really moving.
Very similar verdict to how I feel about Bitcoin.
We’ll just have to see over time.
