ETH Update
ETHUSDT should be topping out around 320.
ETH bottomed out at 200 two nights ago, touching this area twice. The bottoming pattern was a classic double bottom with price touching the same area while MACD and RSI forming higher lows. Given this bottom, the bigger picture of ETHUSDT is now a downward trading channel as price is locked between an upper resistance line and lower support line.
ETH is now close to its upward resistance line. A breakout from this area will send us back to all time highs but I expect resistance. You can take this as an opportunity to buy in when the coin retraces. The first buy spot is 280 followed by 255. A strong break below 255 (say it goes 240) will mean the coin will once again challenge 200 usd.
ETH bottomed out at 200 two nights ago, touching this area twice. The bottoming pattern was a classic double bottom with price touching the same area while MACD and RSI forming higher lows. Given this bottom, the bigger picture of ETHUSDT is now a downward trading channel as price is locked between an upper resistance line and lower support line.
ETH is now close to its upward resistance line. A breakout from this area will send us back to all time highs but I expect resistance. You can take this as an opportunity to buy in when the coin retraces. The first buy spot is 280 followed by 255. A strong break below 255 (say it goes 240) will mean the coin will once again challenge 200 usd.
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