#Ethereum = Daily Analysis = 25.08.2021 $ETH #ETH #investing #cryptocurrency #crypto

From previous Weekly on Aug 22: “ETH closed this week with a Hanging Man/Harami type of candle and this is a concern. While the rally could continue for a few days, there is a good chance of a sharp reversal closer to the end of week.”

This is a mid-day update and I will focus on the possible candles that could be formed by the end of the day.

CANDLES

So far the monthly and weekly maintain the bullish structure. There are first signs of deterioration on the weekly, but it requires a confirmation on Saturday.

Daily
On August 24, ETH formed a strong Bearish Engulfing that closed below 8 EMA line. Today could be a decision day.
If ETH closes today with a red candle below 20 EMA, approximately ~$3075, a decline would be almost guaranteed.
Any other red or green candle would need to be interpreted once the shape is known.

Odds: Bearish

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