Ethereum (ETH) Still On Track For A Steady Recovery
Ethereum (ETH) has been trading in a bullish gartley pattern since early 2017. The price has now retraced back to the trend line and already found a strong support. The above chart for ETH/USD shows that the 10 Week EMA is now primed to cross above the 21 Week EMA. When that happens, we will see a big boost in the price of Ethereum (ETH) and the strong beginning of a new cycle. The volume has been declining steadily since the beginning of the correction and has now reached a point where a reversal is expected. The number of shorts has also fallen sharply in the past few weeks. This shows that the bearish resolve is seriously hurt and the market is preparing for a recovery. Short term uncertainty aside, the big picture for ETH/USD is very clear and it is only a matter of time before we see a strong reversal.
Ethereum (ETH) is not just a cryptocurrency; it is an invaluable technology that could help revolutionize our future. If we consider the blockchain technology to be similar to…
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