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Ethereum Technical analysis

Hello Everyone Welcome back to another Ethereum update

I mentioned the fact that we have to keep in mind that the 20 exponential moving average has yet to be tested you can see that as of right now we have finally broken into that zone retested that level and as of right now trying to see whether or not the Bulls can break out above of course on The Daily yesterday I also mentioned that we are in extreme oversold conditions so I would be very careful looking for shorting opportunities unless we broke below 1612$

this the right time to be shorting is this the right time to be looking for any sort of shorts I mentioned the 1715 would be the ideal range now the only problem is the fact that you can see on the daily time frame we are seeing quite a bit of volume come into the market I wouldn't be looking for any shorts until we see a daily candle close because you never want to short into volume and you can see that right now we do have a possible v-shape formation looking to play out where we could look for another short squeeze into 1787. Usually, when you see an explosive move like this it does mean the fact that this is a larger short squeeze so this is why I'm mentioning to be very careful like right now looking for any sort of scalping opportunities because you're much better off waiting for a possible move downside and then a continuation

I want to see that that will be used as support before that continuation but now of course with this explosive move the chances of us seeing that continuation to the downside are very very slim Instead what I'm going to be watching now is on the daily time frame to see how we break above the 20 exponential moving average if we end up using the 20 EMA as support and then seeing a balance that's going to be a confirmation for a very nice scalping opportunity into the 1787 range because this is pretty much

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