ETH showing strong support above the 26 weekly EMA. Whether it stays above it is more of a macro thing..
the cyan line showed support when drawing the chart in log scale, shows resistance now.
The RSI and ECMA both show that it is oversold, and frankly it is the lowest it has ever been since the sell of started in december/Jan, as opposed to BTC that touchced its lowest point a few weeks ago and recovered from that. For this reason I expect a very strong reversal as other currencies may flow back into ETH, assuming there won't be any bad macro news soon.
the cyan line showed support when drawing the chart in log scale, shows resistance now.
The RSI and ECMA both show that it is oversold, and frankly it is the lowest it has ever been since the sell of started in december/Jan, as opposed to BTC that touchced its lowest point a few weeks ago and recovered from that. For this reason I expect a very strong reversal as other currencies may flow back into ETH, assuming there won't be any bad macro news soon.