According to Jelle, Ethereum has recently confirmed a successful retest of its 50-day Exponential Moving Average (EMA). The analyst is optimistic about the cryptocurrency’s potential to achieve record highs once it breaks above the $3,700 mark. The 50-day EMA is a crucial tool in technical analysis, offering insights into possible price changes. Unlike the Simple Moving Average (SMA), the EMA places more emphasis on recent data, making it a valuable indicator for identifying trends and potential entry and exit points for traders.
