Ethereum (ETH) made a nice new higher low at $120 earlier this year, which was the first time since the whole bearmarket.
Are we out of the bear market? I guess we are.
What do we expect from here? We should be making a wave that’s creating a higher high, just like Bitcoin did with the $14,000 move.
So, what hurdles do we have?
First of all, we’re aiming $220 as significant resistance here. If we flip that level for support, we can aim for $360 as next major resistance.
Whether or not we clear it in one go (or consolidate for a few weeks) doesn’t matter that much, I think we’re breaking it pretty soon. (if hard rejection -> retest $120 is the bearish story)
Going towards $360 would be the next test. Clearing $360 and we aim $500 & $600 -> disbelief.