Past Performance of Ethereum
Ethereum is firm, swinging higher, and within a bullish breakout formation. After closing above the resistance trend line, ETH has been floating higher. However, prices are still below November highs at around $1.7k. This resistance line is critical and must be broken to validate the upside.
#Ethereum Technical Analysis
Bulls are confident, considering the series of higher highs in the past few days. Support lies at around $1.5k, with the bull bar of January 20 defining the short-term trend. As long as prices are within this bullish engulfing bar and $1.5k, every low might be an entry. Conservative traders, however, may have to wait for a high volume close above $1.7k before digging in, targeting $2k. The upside preview holds water because ETH bull bars are along the upper BB, indicating participation and relatively high volatility.
What to Expect from #ETH?
ETH prices are in tight ranges. Even after the gains of January 20, there must be confirmation. In that case, the coin may surge above $1.7k. This may provide the necessary momentum for the next leg-up to $2k or better in the sessions ahead.
Resistance level to watch out for: $1.7k
Support level to watch out for: $1.5k
Disclaimer: Opinions expressed are not investment advice. Do your research.
Ethereum is firm, swinging higher, and within a bullish breakout formation. After closing above the resistance trend line, ETH has been floating higher. However, prices are still below November highs at around $1.7k. This resistance line is critical and must be broken to validate the upside.
#Ethereum Technical Analysis
Bulls are confident, considering the series of higher highs in the past few days. Support lies at around $1.5k, with the bull bar of January 20 defining the short-term trend. As long as prices are within this bullish engulfing bar and $1.5k, every low might be an entry. Conservative traders, however, may have to wait for a high volume close above $1.7k before digging in, targeting $2k. The upside preview holds water because ETH bull bars are along the upper BB, indicating participation and relatively high volatility.
What to Expect from #ETH?
ETH prices are in tight ranges. Even after the gains of January 20, there must be confirmation. In that case, the coin may surge above $1.7k. This may provide the necessary momentum for the next leg-up to $2k or better in the sessions ahead.
Resistance level to watch out for: $1.7k
Support level to watch out for: $1.5k
Disclaimer: Opinions expressed are not investment advice. Do your research.
