ETH has had difficulties to break through the fib retracement at 78.6%; but in the night (january 01 - january 02) it broke through and has had a rush to the next fib retracement 100% (old ATH).
This movement was accompanied and caused by high volume.
It led - as mentioned - to the older ATH and at this point lost its momentum.
The price is now in a consolidation.
It shouldn´t fall back to the fib retracement at 78.6%; this would disturb the good sentiment.
Without the volume ETH is not expected to break thorugh the next fib retracement and generate a new ATH.
Volume is what is needed for higher prices.
This movement was accompanied and caused by high volume.
It led - as mentioned - to the older ATH and at this point lost its momentum.
The price is now in a consolidation.
It shouldn´t fall back to the fib retracement at 78.6%; this would disturb the good sentiment.
Without the volume ETH is not expected to break thorugh the next fib retracement and generate a new ATH.
Volume is what is needed for higher prices.
Trade closed: target reached:
After ETH has broken the resistance and reached next fib restistance at 1.200$ I´ve sold some tokens.
Perhaps ETH rises one more time to upper limit of trend channel before this move will start.
Waiting now for a little correction ((corrective 4?) which leads us to the last support at 860$.
Perhaps ETH rises one more time to upper limit of trend channel before this move will start.
Waiting now for a little correction ((corrective 4?) which leads us to the last support at 860$.