We've broken through a major milestone and since great 2018 boom surpassing trading in the $1300 -$1380 zone. We have an developing on the 4 hour for the past week. If this channel and momentum holds we will be at the great psychological number of $2000 by early February or sooner. Of course I say this in a "perfect" case scenario.
We are on the starting line for a new price discovery for Ethereum this week. If the trend doesn't hold we fall back down to previous support levels.
Please understand and take caution that we are also in oversold territory for Ethereum .
Support Area: $1225
Resistance Area: Price Discovery
Cheers everybody! Much peace and love. Happy trading and Investing.
Typo on my part everybody. We are overbought not oversold. My apologies.
We are still trading well within support and resistance zones. Still Above the 50 and 100 day Moving Average as well.
Current support: $1050
If we don't hold $1050 we're going back into the $900s.
The overall macro trend is still positive though we are oversold on the weekly RSI. Be patient and be long term. Cheers.