Ethereum close to a breakout?
Updated
So by looking at the wedge ETH has just closed out of and now has support at old resistance leads to me to believe a further breakout is coming. Now there is two things to take into consideration here
- Steve "The Woz" Wozniack came out yesterday with a pretty bullish statement on Ethereum yesterday stating that ETH could be the next Apple. Now could the price have seen an increase due to that article, sure its possible.
- The chart is telling me that a breakout is due to occur if it can hold that support for this next candle. I would expect it to reach further highs if that is the case. So overall I stay neutral based on that. The next few hours will decide weather or not it could potentially reach higher prices.
- I will go long in that case
If breakout occurs my target would be 775-800
- Steve "The Woz" Wozniack came out yesterday with a pretty bullish statement on Ethereum yesterday stating that ETH could be the next Apple. Now could the price have seen an increase due to that article, sure its possible.
- The chart is telling me that a breakout is due to occur if it can hold that support for this next candle. I would expect it to reach further highs if that is the case. So overall I stay neutral based on that. The next few hours will decide weather or not it could potentially reach higher prices.
- I will go long in that case
If breakout occurs my target would be 775-800
Note
I see it now. Thank you for that. I appreciate it
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