This is an area that of course will be of interest due to the fact that the 200 day EMA sits just below there. We had recently bounced from just below the 200 day EMA so it looks to me like Ethereum is trying to do everything it can to pick up a little bit of momentum.The big question of course is whether or not it can take to the upside and try to recover after what has been a rather vicious selloff over the last couple of months.
I think the one thing you can probably count on at this point is that Ethereum is going to be noisy, but that is not a huge surprise considering that crypto is one of the most volatile assets that you can be involved in. I suspect that we are going to see more of the same, as the markets are trying to figure out directionality.
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