🔥 EThereum Huge Break out: Bullish Week Ahead?

7 thg 7, 2021

Few days ago I made an analysis on the potential short-term price movements of ETH, what to expect and which areas to watch. This morning, helped by a very bullish alt-coin market, ETH has broken out of the multi-month blue resistance line.

Be aware that this also could be a fake-out like we've seen earlier, so keep a close eye on Bitcoin and its upcoming areas of resistance. Furthermore, a period of consolidation is more or less expected around the current price.
See my most recent Bitcoin analysis below:

So, assuming this is not a fake-out, this break out could signal the start of bullish price action in the near future. Like mentioned in my previous post, the current main areas to watch are $2630 and $2900, with the latter being a long-term target.

Although that the market is looking very good right now, a dip might still occur. I'm eyeing the $2000 support area to buy back in, in case the dip happens.

Happy trading!