Ethereum In A Bullish Channel
Ethereum has recently formed a bullish channel after last week's strong decline. Today, bullish price action is picking up again, which makes me confident we will reach the upper limits of the channel soon.
The first and foremost resistance to beat momentarily will be the All Time High resistance around $1340. In case that one gets taken out, expect some consolidation when the price hits the upper trend line of the channel. After that, it depends on what Bitcoin will do. If BTC will either consolidate or get bullish, we might pierce through the resistance and be on our way up. If BTC falls, expect ETH to follow the channel.
The first and foremost resistance to beat momentarily will be the All Time High resistance around $1340. In case that one gets taken out, expect some consolidation when the price hits the upper trend line of the channel. After that, it depends on what Bitcoin will do. If BTC will either consolidate or get bullish, we might pierce through the resistance and be on our way up. If BTC falls, expect ETH to follow the channel.
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