Strong double resistance broken, target 270

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
Last few days/weeks ETH lagged behind BTC because of two strong resistances.

Now these are both broken, ETH will likely play some price catch-up.

Target: 270

Back-ground to the resistance lines:
what about those two big red volume bars?
micmuc bobchen29

You mean April 3rd and 4th?

I'd call them opportunistic day traders that entered short positions und the assumption we were at a support that wouldn't brake. Once we truly break it and move towards 200 their shorts stop will provide extra fuel towards the 270..
@micmuc, I meant the Feb 24th one and April 3rd one. Yeah, for the day traders or short term speculators, that's probably it.
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