nomec182
Long

ETH Long Channel Analysis

COINBASE:ETHUSD   Ethereum / U.S. Dollar
So, ive noticed thanks to other traders that we've really been trading within a wide but clear channel since last year. Yesterday we hit the bottom of the channel after breaking out of a pennant bearish . If this trend is to continue to hold then ETH has nowhere to go but up. If ETH breaks about $565, then the long channel is officially broken and should expect more downside movement. To do this would also require breaking through the 200 MA.

Looking ahead to where ETH could be in a month or two, $1000 should be an easy mark, with $2,800 - $3,200 about three to four months out a possibility, but unlikley.
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