Hi, and welcome to Thursday's update. Today's video analysis looks at Ethereum on the daily chart. I wanted to do this report yesterday, but I wanted to give the market some more time to prove that this latest move higher really had some legs to it.
Buyers confirmed Tuesday's rally with a follow-up, which is a good sign. We are focusing on ETH, but this week's breakouts can be seen across the boards, which is another good sign that there's plenty of demand in the crypto world right now.
In today's analysis, we have broken down the breakout, future levels that could present new resistance and what we want to see from price moving forward to give this new leg higher further credibility.
If we see a new lower move that returns to the range base at 1270, we would start to think it could be a false break. We want to see a new higher low above 1370 with a higher high to show that buyers are on to something here.
Good trading.
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Please subscribe to our Youtube channel (www.youtube.com/chan...7H1ycVUAG_M3aToCPk8w)
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Buyers confirmed Tuesday's rally with a follow-up, which is a good sign. We are focusing on ETH, but this week's breakouts can be seen across the boards, which is another good sign that there's plenty of demand in the crypto world right now.
In today's analysis, we have broken down the breakout, future levels that could present new resistance and what we want to see from price moving forward to give this new leg higher further credibility.
If we see a new lower move that returns to the range base at 1270, we would start to think it could be a false break. We want to see a new higher low above 1370 with a higher high to show that buyers are on to something here.
Good trading.
We do like to hear from you, so please feel free to drop us a comment. We also run weekly webinars with guest analysts.
Please subscribe to our Youtube channel (www.youtube.com/chan...7H1ycVUAG_M3aToCPk8w)
And to our newsletter to stay up to date. www.eightcap.com/en/market-analysis/