If you follow Team Sparkster's analysis you'll know that for many weeks now we've been talking about the $380 level on Etherum.
It should now be clear why for all traders by a glance at the chart to see how that level has acted as magnet and support and resistance for price all the way even until today.
A clean break above this level is highly bullish for ETHUSD and the altcoins in general.
Price broke about $380 a few days ago for 1-day but has pushed back below for the past few days.
Price is now resting on top of the trading range shown with the yellow shaded area.
Optimistically we can see this level hold and price push yet again back above the $380 level. A hover for a day at that price point should signal to the market that lower prices are not happening as the bulls begin to pile cash into the Ethereum and altcoin markets.
Note: SparksterSignals (including our technical analysis and our algorithmic backtested signals) are not provided as financial advice.
It should now be clear why for all traders by a glance at the chart to see how that level has acted as magnet and support and resistance for price all the way even until today.
A clean break above this level is highly bullish for ETHUSD and the altcoins in general.
Price broke about $380 a few days ago for 1-day but has pushed back below for the past few days.
Price is now resting on top of the trading range shown with the yellow shaded area.
Optimistically we can see this level hold and price push yet again back above the $380 level. A hover for a day at that price point should signal to the market that lower prices are not happening as the bulls begin to pile cash into the Ethereum and altcoin markets.
Note: SparksterSignals (including our technical analysis and our algorithmic backtested signals) are not provided as financial advice.
