$ETH gives the altcoin market a lot of sentiment so where ETH goes most Alt goes. For this to really be an altcoin season, ETH is likely to have to move upwards.
If ETH breaks the pennant with volume we should see .075 relatively quickly.
First leg has just occurred and accumulation is taking place in the form of an ascending triange which is a bullish accumulation. The VPVR is very thick here and as you can see there is not much volume and no resistance above this area until the .075 area. That is my target but I do expect some consolidation at the bull flag target at the .07 area. It may blitz right through that however as again there is not much resistance and it is just randomly in the middle of the Kumo cloud. The .075 target lines up very well with the Kumo cloud where the VPVR is also thick and there was a previous orderblock/Distribution there on the downside in March.
If ETH breaks the pennant with volume we should see .075 relatively quickly.
First leg has just occurred and accumulation is taking place in the form of an ascending triange which is a bullish accumulation. The VPVR is very thick here and as you can see there is not much volume and no resistance above this area until the .075 area. That is my target but I do expect some consolidation at the bull flag target at the .07 area. It may blitz right through that however as again there is not much resistance and it is just randomly in the middle of the Kumo cloud. The .075 target lines up very well with the Kumo cloud where the VPVR is also thick and there was a previous orderblock/Distribution there on the downside in March.