Price has only just re-emeged above the 200 day ema which is a...

Price has only just re-emeged above the 200 day ema which is a bullish sign,
but that ema needs price to spend alot of time above it in order to turn the 200 day ema trend to up.

Price has been in a bearish position for the most part since August 2023, and is now only recently showing signs of a turnaround,
laregly due to participant taking position ahead of Alameda3.

Technical analysis looks to mathematically express where/how price is moving relative to time,
the rate of change in price measured with reference to a moving average gives the direction and speed of the move.

Shorter time frame moving averages respond faster than longer time frame moving averages.
The stronger and more sustained the price move the wider the distance between price and the moving average,
the longer the period of the moving average the slower it is to change.

In the chart below, the 200 day exponential moving average is the line in red.
In the circle to the left, price is mostly below the 200 day moving average, indicating long term price trend = down.
In the circle to the right, price is mostly above the 200 day moving average (by a wide margin) indicating price trend = up relative to the 200 day ema.

So, as price has now re-emerged above the 200 ema,
it can be take as a mathematical sign that the trend appears to have turned up.