Crypto trader Doctor Profit said Ethereum has decisively broken through a key resistance area that defined the bear-market phase and has climbed back above what he calls the "golden line," the weekly EMA50, for the first time since this bear cycle began. In his view, the move marks an important technical signal for ETH. He also used a blunt warning for traders on the other side of the market, saying to "buckle up" and adding that short sellers are likely to face pressure. The comments were shared on Aug. 20 in a post cited by BlockBeats. The statement did not include additional price levels or broader market data, focusing instead on the technical significance of ETH moving back above the weekly 50-period exponential moving average.
Ethereum has fully broken above a key resistance zone from the bear-market period and has reclaimed the "golden line" — the weekly EMA50 — for the first time since the current bear cycle began, according to trader Doctor Profit in a post cited by BlockBeats on Aug. 20.
Doctor Profit said the move is an important technical signal for ETH. He also wrote "buckle up" and said short sellers will face pressure.
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