I'd like to dive a bit deeper later on but I felt it was important to put out a quick TA on Ethereum right now because we are getting confirmation on a reversal pattern.

After trading flat since recovering from the crypto crash last month, both Ethereum and Bitcoin are starting to show signs of life. Check out the Daily:

We don't always have the benefit of a W printing so clearly on a daily chart. How convenient that the MACD shows a bullish cross just as price moves up and the bullish reversal pattern confirms. Prepare for some resistance around $3k, however, Ethereum appears to finally be getting back on track after that false start on the pattern three days ago at $2530. 

Drilling down to the 1H with the 50EMA cloud turned on, we can see how nicely the 50EMA weaves through the pattern. The more involved the 50EMA is in the formation of the pattern, the stronger the pattern tends to be. The longer the pattern takes to develop, the stronger the pattern tends to be. We are encouraged to see Ethereum printing a W across two and a half weeks.