Ethereum (ETH/USD) is showing significant wicks on both sides of the daily candlesticks. The struggle between bulls and bears is, however, above the 21 ema zone in a strong uptrend (all moving averages are aligned).
The ETH/USD remains in a well established uptrend. Price action recently completed an ABC (grey) pattern in wave 4 (pink). After that, price action broke above the 21 ema zone for another bullish swing up:
- So far, the bullish swing is not yet completed because the AO bars on the daily chart are still far above the middle line of the oscillator. Price action has bounced from the 38.2% Fib to the -27.2% Fibonacci target.
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