Looking at the Ethereum chart, we see several signs of strength that suggest we see a significant increase in price in the coming weeks/months. Much like Bitcoin, ETH has held the 21 weekly EMA for many weeks now, and we see a possible symmetrical triangle-like pattern that a breakout may be in progress. The fact that we are breaking above resistance, bounced from the 21 EMA, and have a fresh MACD cross suggests we "could" see a price rise above the R3 yearly pivot or as even as high as the previous major resistance towards $780. We patiently wait for the market to reveal its hand. It should be noted, a decisive break and weekly close below the $350 price level will likely invalidate this idea.
Comment:
Just an update to my last ETH chart, so far things have gone very well. I hope everyone is enjoying the profits, please remember to stay level head and ignore all the short term news/media trying to distract you from the long term price targets.
