ETHUSD The ultimate double MA test.

Aug 23, 2023

Ethereum (ETHUSD) hit last week both the 1W MA50 (blue trend-line) and the 1W MA200 (orange trend-line), for the first time since the week of March 13 and March 06 respectively. It did manage to close the 1W candle above both and as long as it does, it will be a bullish signal, targeting 2030 (Resistance 1).

If it closes a 1W candle below them (primarily the 1W MA50), we will look to add the next buy only on the bottom dashed Higher Lows trend-line. Notice that the 1W RSI being near the 40.00 Symmetrical Support, always favors buying and since January 2022, every time it (marginally) broke below it, it recovered giving at least a 2-week rebound.

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