ETHUSD has recently broken out of a multi-year resistance line at $360 and successfully backtested it. It's forming a large cup & handle with a technical target in the $700 range.
RSI is also looking good - a proprietary indicator I have is currently showing an uptrend (see green background behind RSI in this chart). The RSI potentially is forming an inverse head/shoulders pattern (note the trendlines drawn on the RSI).
If ETH can clear $420, then next resistance is 440, 480 of course and above that, blue sky to 700.
Disclaimer: I've been longing ETH dips since about $280 and continuing to
RSI is also looking good - a proprietary indicator I have is currently showing an uptrend (see green background behind RSI in this chart). The RSI potentially is forming an inverse head/shoulders pattern (note the trendlines drawn on the RSI).
If ETH can clear $420, then next resistance is 440, 480 of course and above that, blue sky to 700.
Disclaimer: I've been longing ETH dips since about $280 and continuing to
Note
Zooming out there's this double-bottom as well which projects a target of around $700. Note
👀Note
Short term bearish, long term bullishNote
Monstrous breakout. Remember to take some profit along the way!Trade closed: target reached
Target reached. Landed right in the magnet :) 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.