ETHUSDT Directional Analysis May10 2023
ETHUSDT has started a top formation at its historical pivot resistance at 1950-2050
The 3D macd is negative and price is looking to break the 3D21ema
Bulls have completed a 6M uptrend similar to btc from Nov2022-May2023.
Primary Macro supports
1050-950
Secondary Macro Support
Will reevaluate for 650-550 if if hits the 1050-950
Short term support at 0.50-0.618fib or 1500-1400
1950-2050 will remain the resistance if market moves sideways
Since price is breaking the 3D 21ema coupled with the ending of the 6M cycle, the probability is very low for bulls to push to 2525(0.618)
ETHUSDT has started a top formation at its historical pivot resistance at 1950-2050
The 3D macd is negative and price is looking to break the 3D21ema
Bulls have completed a 6M uptrend similar to btc from Nov2022-May2023.
Primary Macro supports
1050-950
Secondary Macro Support
Will reevaluate for 650-550 if if hits the 1050-950
Short term support at 0.50-0.618fib or 1500-1400
1950-2050 will remain the resistance if market moves sideways
Since price is breaking the 3D 21ema coupled with the ending of the 6M cycle, the probability is very low for bulls to push to 2525(0.618)
