Technical analysis by Madrid about Symbol ETH: Buy recommendation (11/15/2022)

Ethereum is consolidating around the 1,200 level. This is a good sign since it tested support at the 1,100 level. It hasn't entered in a rally, except a quick 50% after it bottomed, but still under the 20 and 50 ma's. If this holds then the increasing volume can signal an accumulation that could try to break out the consolidating triangle.