easyMarkets
Long

ETHUSD approaching support, potential bounce!

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
ETHUSD is approaching our first support at 116.12 (horizontal swing low support, 61.8% Fibonacci retracement ) where a strong bounce might occur above this level pushing price up to our major resistance at 135.07 (horizontal overlap resistance, 50% Fibonacci retracement ).
RSI (21) is also approaching support where we might see a corresponding bounce in price.
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any update on this chart ?
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We are so excited about this bounce as well and are looking for a move to the top resistance as well. The descending triangle pattern is great confirmation we could go "parabolic" in a sense to the resistance levels soon. Best of luck!
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