๐ฅ ETHEREUM โ Only the MA50 Can Save the Day! ๐ฅ
$ETH just pulled off a wild move โ bouncing back from the weekly MA20 (red line) after last Fridayโs flash crash ๐ but hitting resistance again right at the daily MA50 (blue line).
This setup feels like dรฉjร vu ๐ โ the same thing happened back in June 2022 when ETH dropped ~27%, consolidated below the MA50 for a few days, then exploded into a massive bullish leg. โก
Now, history might be repeating itself...
๐ The 1D RSI shows a clear bullish divergence (price making lower lows while RSI makes higher lows) โ a classic sign of bottoming. But for the next rally to be confirmed, ETH must break and close above the 1D MA50.
๐ฏ If that happens, the next big leg could push ETH toward $7,150 (+108%), matching the strength of its last breakout move!
โ ๏ธ On the flip side, if ETH closes below the weekly MA20, we could see a deeper correction toward the 1W MA100 near $3,050 โ the long-term support line of this bull cycle.
๐ฌ What do you think, fam? Is ETH gearing up for a monster breakout or another fakeout?
๐ Drop your thoughts below ๐
๐ Like | ๐ Share | โ
Follow for more crypto insights!