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$ETHBTC Update.
The $ETHBTC pair has become active again.
The global support at 0.028 worked perfectly and produced a 10% bounce.
However, volumes are not supporting the move.
What do we see on the chart?
The pair is still trading below the 21 and 50 moving averages.
Above the price there are two strong global resistance levels at 0.032 and 0.037.
And the pair remains inside a clear downtrend.
What needs to happen for $ETH to take the initiative again?
First, a break of the descending trendline.
Second, a move above the moving averages and a confirmed hold above the 0.034 level.
Only after that can we start talking about a real trend reversal.
As I always say, use DCA so you do not fall into traps.
My portfolio: $TEL $TIA $APT $AVAX $ETHFI $LDO $OP $ETH $ONDO $ENA $MANTA $ALGO $ZK $XNO
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