Since the dump down on February 22nd, ETH has been hard to read until just recently where we got a reversal confirmation going long.
ETH bottomed out at the monthly support at $1373 and regained the $1594 previous 2017 ATH level as well as the upwards channel. Ethereum regained the $1784 level of resistance as support as well as this upwards channel as support and now its looking up. At the moment, it looks like the bottom wick of the daily candle is being painted and i'm expecting ETH to hit $2,022 this week.
The $2,022 level is the previous local high created right before the February 22nd dump down to the monthly at $1347.
You could say that ETH has created a cup & handle pattern, but the more advanced trades know this was just a bounce off a monthly level of support being respected.
ETH bottomed out at the monthly support at $1373 and regained the $1594 previous 2017 ATH level as well as the upwards channel. Ethereum regained the $1784 level of resistance as support as well as this upwards channel as support and now its looking up. At the moment, it looks like the bottom wick of the daily candle is being painted and i'm expecting ETH to hit $2,022 this week.
The $2,022 level is the previous local high created right before the February 22nd dump down to the monthly at $1347.
You could say that ETH has created a cup & handle pattern, but the more advanced trades know this was just a bounce off a monthly level of support being respected.
