ETHEREUM Targeting the 1D MA200

Ethereum (ETHUSD) is trading within a 6-month Channel Down pattern with the price breaking above the 1D MA50 (blue trend-line) yesterday. The short-term pattern is a Megaphone within the Channel Down whose Lower Lows come in direct contrast with the Higher Lows of the 1D RSI. Thus we have a significant RSI Bullish Divergence which is holding since the August 17 Low.

The Higher High projection of the Megaphone coincides perfectly with a potential 1D MA200 (orange trend-line) test. The target is 1755.

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