Earlier this month Ethereum formed the notoriously bearish triple top pattern and was looking like it could come back down and retouch the $470 support level.
Then I didd some investigating into bigger timeframes and realized that ETH hasn't came back down to touch a single level of support since $234 and it doesn't have to in a bull market.
All the talk about the $470 was invalidated after ETH created that higher lower and never saw a close underneath this uptrend. From there, it was squeezed lower until it couldn't possibly drop any lower and then rocketed upwards past $556 and out of the wedge.
From this close out above $556 we can expect to see a weekly close above the $556 level indicating the continuation of this bull market going long towards $600 and beyond.