quantguy

Ethereum Signs of Life?

Long
BITSTAMP:ETHUSD   Ethereum / U.S. Dollar
Ethereum has recovered from lows, benefiting from momentum in the crypto space. We are seeing resistance from $2556, which is a level we have identified quite a while ago. We will continue to see resistance from $2651, the next major level, but then we have a vacuum zone back to $2965. However, ETH as of late has been finding levels in the $2800's to be an upper bound to a potential bull wedge pattern on the longer term. If ETH can't muster the strength to test these upper levels just yet, it will find support from $2400 or at most, $2232, but that would take quite a selloff. The Kovach OBV is still in the doldrums, but could potentially be showing signs of life.
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