ETHEREUM (ETH/USD) One Of The TOP Gainers & The Trendline Party!
Updated
Ethereum has made a 33% increase since 12.09, it bounced upwards from $170 and now the current price is around $215. The bounce came from the sharper trendline area. After the bounce, we got from the daily timeframe a nice bullish candlestick pattern called "Morning Star" and this momentum gave a boost to break back above the blue trendline, above the $200, above the orange resistance level, above the 50 EMA (on the one- hour timeframe it trades above all the EMA's - 50, 100, 200).
Currently, the price sitting on the Fibonacci retracement level 38 percent and it approaching the trendline (dark red) which is pulled from 01.04.2018 and could start to work as a resistance. Above the current price are heavy resistances after another:
1. The longer and smoother trendline since 01.04.2018 - $225
2. Previously worked resistance - $230-$234.5
3. Fibonacci retracement 50 percent - $235
4. The trendline since 29.06 - $237-$241
If we can beat those levels then the Ethereum' panic selling could be over!
Hopefully, those levels and this analysis helped You out a little bit to confirm Your own analysis!
Please, don't forget to hit the LIKE button to support us!
Best regards!
Currently, the price sitting on the Fibonacci retracement level 38 percent and it approaching the trendline (dark red) which is pulled from 01.04.2018 and could start to work as a resistance. Above the current price are heavy resistances after another:
1. The longer and smoother trendline since 01.04.2018 - $225
2. Previously worked resistance - $230-$234.5
3. Fibonacci retracement 50 percent - $235
4. The trendline since 29.06 - $237-$241
If we can beat those levels then the Ethereum' panic selling could be over!
Hopefully, those levels and this analysis helped You out a little bit to confirm Your own analysis!
Please, don't forget to hit the LIKE button to support us!
Best regards!
Note
Currently, the price is in the strong area which was before a resistance and now it becomes a support! If the market holds then this is a perfect breakout trade - breakout + restest and let the climb continue!
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