© Reuters ETH Faces Tremors This Week, Will It Go Beyond Resistance 1?
- Crypto Tony claimed that ETH was rejected again from the supply zone.
- Ethereum’s native token is currently above the 200 EMA, which could indicate a bull run.
- Indicators show that there could be an unpredictable nature of ETH.
Taking to Twitter, popular crypto analyst, Crypto Tony, shared an update about the trading pair. The crypto analyst claimed that ETH was rejected again from the supply zone; moreover, advised investors that they need it to flip at the current level into the support for the long run.
$ETH / $USD – Update
Rejected again from the supply zone. If you want to long then you wait for a flip of this level into support pic.twitter.com/wEazQAWYzV
— Crypto Tony (@CryptoTony__) February 8, 2023
When looking at the 4-hour chart, Ethereum’s native token is currently above the 200 EMA, however, it recently broke through the 50 EMA line, still within its range. While the start of the new year saw the start of a bull run, currently, ETH is fighting hard to remain in a bullish season.
4-hour chart ETH/USDT (Source: Trading View)
Yesterday, ETH reached the Resistance 1 region, before traveling downwards to meet the 50 EMA. Before …
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