Assuming confirmation of breakout, ETH may be headed for a new ATH. Green horizontal lines represent potential support zones. Would love some feedback!
Hi, I think there is pretty strong resistance at 865. The price can actually turn there pretty rapidly. I myself will be entering a short there. Reason is massive institutional volumes. Check out my analysis to see what I mean:
UnknownUnicorn1251625
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@Trader_Dale, I have that zone marked, but I agree that it may be a reversal point. If we break that resistance then it should become a support. That will be a critical point to monitor.
Joeshmoguy
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I would say optimistic, but I like it. However, I am curious to see what happens to ETH when TRON launches it's mainnet May 31st. TRON is a variable for sure for ETH.
UnknownUnicorn1251625
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@Joeshmoguy, This idea is one of the best possible outcomes for ETH. Assuming we are looking at another bullish market this may pan out. If we continue to see lower lows then this option is no longer valid in my opinion.