Things have become short term looking and an formed since 28 December breaks the downwards since August 2018.
All ETH needs to do is continue on the same path to break the pink downward .
Other reasons this looks short term for a breakout:
- MACD Ready to trend upwards
- Histogram reversal forming
- Volume increasing on the 4hr
- Fibonacci matches a breakout
Other note: if a breakout occurs, $140 could become resistance, $120 could become stronger resistance, a higher high of $320+ that holds could mean... bull market?