ETH Hourly Equilibrium is Tight

Bulls still battling EMA 12 hourly resistance and must see another leg up for the bulls to negate the potential for a bear flag.
If we lose these hourly higher lows we are headed to $500 as BTC heads to $6,450.
Currently in small bounce positions and remaining protective against this scenario.
Bulls need to break the high of this bounce to give some confidence on the day and form a bullish reversal candle on the daily.
RSI levels have already cooled off a good deal though BTC still has lower levels.
Look for a spike in volume to give us clear direction this morning.
Remain skeptical of the bulls until they prove themselves with volume and resistance breaks.