Solid cup and handle formation across several time intervals. Support/Resistance channel indicates possible next target of $250. I am predicting a large dump at this price, as early investors will be collecting profits. Reasoning behind this price as a dump point lies in more in psychology than in technical analysis: $250 is a nice round whole number, that is coincidentally another nice round number on the ETHBTC chart (0.1 BTC). Tempting for traders on both markets to take advantage of this siren's call.
In case of a dud, I recommend placing your stop around $185, as this will indicate a clear break from trend.
Target: $250
Stop: $185
In case of a dud, I recommend placing your stop around $185, as this will indicate a clear break from trend.
Target: $250
Stop: $185