ETH Wave Fusion Buy Signal? Levels to Watch!

Looking at the ETH 4h chart, we can see we broke below the 200 EMA and the major support levels of $1230 and $1200. The thing that has my attention is the Wave Fusion buy signal that's flashing on and off (will close in 3 hours). This, combined with the drop that nearly hit our support of $1150, has me believe we could be in for a reversal to the upside soon.

If you look at the last times we flashed a buy signal on ETH (Nov 21st), one day later we started our climb from $1100 to $1300 (nearly 20% move). We can also see the RSI is oversold BUT the MACD is still curving downwards so we'll have to give that some time to turn over (since it's a lagging indicator).

The next resistance for ETH is $1200. If we can convincingly close above that on the 4h, I'll feel more comfortable of a continuation to the upside. If not, then I'm looking to DCA at $1150 and $1100 (next 2 major support levels).

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