ETH healthy pullback

Hi all,

Just like BTC, ETH made a short pullback on Sunday and extended it today. Unlike it, however, it did not break below an uptrend line, making it significantly more stable compared to its big brother.

What I will be looking at from here is to open longs down to $216-$220 support zone. Recapturing $230 is the next target upwards.

The rising wedge resulted in a break below the support zone as predicted, so nothing surprising here from technical levels perspective.

Trade active:

Alright, so just as predicted ETH rebounded from the area around $216-$220 and is now trading at $227. I closed some longs.

Comment:

ETH now on its way to $240, but let's see first how the price reacts when $235 is reached and if we won't be caught in some ranging.
This is 4-h chart