Ethereum has blasted through resistance levels to finally come up for air around $1944, the head of our head and shoulders pattern from several days ago. This is a very bullish sign for Ethereum. We are likely to see some resistance here, and perhaps a consolidation pattern before another breakout. The move seems to be extended and a retracement is likely. Watch for ETH to feel out current levels a bit before another bull run. The Kovach OBV is quite bullish, suggesting its FOMO to enter a long trade at this point, but there is a lot of risk to a short position. The best idea seems to zero in on support levels at $1906, $1872, and $1821 and wait for a dip.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.