* We always provide both the and scenarios because the traders should be aware of what to expect in both cases.
Ethereum has received some positive movements. It's now above the 20-day for the first time since MARCH. 5. Additionally, it broke out the 1 as shown on the chart. If Ethereum can sustain above this for more time, a rally to other moving averages is possible. We expect the next will be the area between the 50-day and the 200-day ( now it's between $590- $625).
Any successful break out of these averages will mean that the Bulls resume a strong uptrend. On the contrary, if Ethereum breaks down the 1 it will find support from both the 20-day and the 2. In general we are on Ethereum .
Please be noted that I'm just giving the possible higher or lower levels developing according to the chart patterns. It's my own analysis. You should conduct your own research when making a decision.