ETH Hourly EMA 26 resistance for bulls to turn to support
ETH has multiple hourly inside bars about to break to determine short term direction.
The pullback from the high of the bounce is still less than 50% while BTC and LTC are greater than 50%
BTC is struggling with EMA 12 while ETH is showing relative strength and is 1 level up to EMA 26.
We will still need BTC to change the hourly trend for the ETH bulls to give the daily candle a nice lower wick.
Bulls need to set low of day this morning and see a slow bounce today for the daily chart to continue to hold the trend change possible.
Currently in a patience setup, unless any bulls are trying to enter on the daily higher low, which we still are not confident in until the hourly trend changes at the very least.
The pullback from the high of the bounce is still less than 50% while BTC and LTC are greater than 50%
BTC is struggling with EMA 12 while ETH is showing relative strength and is 1 level up to EMA 26.
We will still need BTC to change the hourly trend for the ETH bulls to give the daily candle a nice lower wick.
Bulls need to set low of day this morning and see a slow bounce today for the daily chart to continue to hold the trend change possible.
Currently in a patience setup, unless any bulls are trying to enter on the daily higher low, which we still are not confident in until the hourly trend changes at the very least.
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