ETH is currently pressed between the 200MA and the 50% Fibonacci level—two major areas of interest.
On May 14th, we saw a clear rejection at the 200MA, followed by solid support at the 50% Fib on May 18th-19th. 📉
MLR < SMA < BB Center isn't ideal, so we need to play it safe and let price do its thing. If we close above the BB Center and macro conditions support the move, we could see upside. 🌱
⚠️ Keep safe, follow for unbiased TA, and always manage risk! 📊
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Price was rejected at the 200MA and is now attempting to find support at the 0.5 Fibonacci level.
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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.