Ether is witnessing buying interest on Tuesday, having put in a classic “long-tailed” Doji candle on the 10-EMA support on Monday.
The lower wick of the Doji candle indicates seller exhaustion near $160.
More importantly, the bounce $168 seen today indicates bull revival. The upside will likely gather traction once Monday’s high of $170 is scaled. That would shift the spotlight to the recent high of $179.
However, if Monday’s low of $160 fails to survive on a daily closing basis, a temporary bearish reversal would be confirmed and a deeper slide to $150 could be seen.