ETHEREUM TETHER ⚠️ Where ETH is Heading in The Next Week

💬 ETH is in the limelight once again, sort of. Ethereum might not be on the cover of TIME, but it was mentioned at a recent Senate finance committee meeting when it was mentioned alongside Bitcoin when giving examples of cryptocurrency.

Mentioning crypto at a Senate finance meeting shows the relevance of crypto, and mentioning Ethereum alongside Bitcoin helps to cement the idea of Ethereum becoming synonymous with crypto.

Let's see if the ETH bulls can make ETH's price look as good as I just tried to make it in those last few paragraphs by looking at some levels.

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Support:

• S1: The S1 S/R flip at the prior range where resistance was found is the first level of support for the bulls. A pullback here and a move off S1 would be an obvious path to start breaking ETH out of the current range.
  
  
• S2: The S2 orderblock formed by the move up represents a level that was interacted with a good deal during consolidation leading up to this move. Given the previous interactions with other Orderblocks as seen on the chart, S2 is likely to see some interaction at some point.
  
  
• S3: Things start to look less attractive at the S3 orderblock, as a trip down to this level brakes below the main price pivot point and retests the previous price range. There is support to be found here, but bulls would rather not have to find it with this current uptrend.
  
  
• S4: The bulls have one more chance to save the bullish price structure by finding support at S4. Below S4 there is some notable support, but for the purposes of mapping out the current move, anything below S4 should not have to be considered for now.
  
  
  Resistance:
  
• R1: If the bulls can break this pattern of lower highs, then the first line of resistance is the R1 bearish orderblock at the prior swing high range. A break above this level means ETH will likely break out of this overall range it has been trading in since the start of June.
  
  
• R2: The R2 bearish orderblock created during the previous dump is the next point of resistance for bulls, we would expect a reaction here even if ETH runs hard on a break of the previous range.
  
  
• R3: The R3 orderblock left at the prior swing high is the primary target for bulls. If they can get here and then create a new range it would help to form an overall bullish pattern on longer time frames.
  
  
  
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  Summary:
  ETH has been in the limelight for a while now, the chart looks decent on some timeframes despite a long-term correction from the 2017 highs. Can ETH bulls continue to show strength as Ethereum solidifies itself within the crypto ecosystem, or will the bears be taking out support and dumping to new lows? Only time will tell.
  
  
  Resources:
  www.forbes.com/sites...and-digital-dollars/
  
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