Price has today taken out the important previous top by the support
and resistance level around 11200. With this a higher low and higher
high is in place. Next important resistance level is the Yearly R2 at 1275.
Natural price action would see this level hit before a retest of the broken
resistance at 11200. A MACD bullish cross is also brewing and likely by
tomorrow. ETH/USD is the strongest of the Crypto Majors right now.
The Hammer formed on Jan 17 suggests a taking out of the All Time High.
This move up could be the start of another bull wave, as we have seen
considerable consolidation, well needed from a bulls perspective. Only
a daily close below the 11100 level will again shift focus to sideways
action.
and resistance level around 11200. With this a higher low and higher
high is in place. Next important resistance level is the Yearly R2 at 1275.
Natural price action would see this level hit before a retest of the broken
resistance at 11200. A MACD bullish cross is also brewing and likely by
tomorrow. ETH/USD is the strongest of the Crypto Majors right now.
The Hammer formed on Jan 17 suggests a taking out of the All Time High.
This move up could be the start of another bull wave, as we have seen
considerable consolidation, well needed from a bulls perspective. Only
a daily close below the 11100 level will again shift focus to sideways
action.
