4h 82 EMA does a magic with ETH

1 Sep 2022

Hi colleagues!

Today I want to share with you some observations regarding the Ethereum (ETHUSD) movements happened in August 2022.
The concept is very easy and short:
In this August ETH was using 82 Exponential Moving Average (EMA) on 4 hours timeframe as a very strong support and resistance line.
You can easily see this on the chart in zones highlighted with arrows.
The recent resistance cases took place on 25-26 and 31 of August.
Right now, we are approaching 4h 82 EMA another time.
Let's guess how the forthcoming impact could affect the price action.
Will ETH break the 4h 82 EMA upward or bounce down from it as two previous times?

Maybe someone sees how we can use the 4h 82 EMA behavior in any other way.
Feel free to share your opinion in comments.

Thanks in advance!