Ethereum is steadily consolidating into a tighter range, notching lower highs and seemingly on the verge of dropping below the 12 and 26 EMA on the 4hr chart. The 4hr and daily chart show Ethereum remains above the ascending trendline with demonstrated support at the 50-MA ($133.40), $132 and $130.
The 12 EMA has crossed below the 26 EMA in the face of declining volume and a retest of the 50-MA and 23.6 percent Fib retracement level seems more likely than not. Dips to swing lows at and below $130 have attracted buyers.
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