Ethereum has produced a bullish divergence (if it has bottomed), while clinging onto the 50MA on the weekly chart. Expect nice price moves up to the 50MA in the next few days to create a nice doji (possibly dragonfly) and later continuation of the parabolic rally that has been seen. Classic example of the bullish divergence in which the price produces lower lows while technical indicator produces higher lows.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.