Get started
CryptoCat93

Can Ethereum follow Bitcoin? If 320$ price level breaks bullish

Ethereum (BITSTAMP:ETHUSD)  
CryptoCat93  
BITSTAMP:ETHUSD   Ethereum
Trend Analysis Support and Resistance Fibonacci Ethereum (Cryptocurrency) Bullish Patterns Bearish Patterns scenarios scenario ETH Bitcoin (Cryptocurrency) market price
5
0
trendanalysis supportandresistance fibonacci ethereum bullish bearish scenarios scenario eth bitcoin market price
I think Ethereum price depends on where Bitcoin price goes. First, we need Bitcoin to reach new highs around 11200-11300$ then I think Ethereum will start test the resistance around 320$ (lines up with 0.236 fibonacci level)
If it breaks up, then my next target is around 390-400$, if fails I think Ethereum will retest the support zone. At the moment there is a bearish divergence, but if the RSI can reach a higher high it will become invalid.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.