Since we were trading withing the bullish triangle a little while ago i talked about some very nice looking upside on the horizon and we have seen just that with a strong breakout and a steady climb back to the upside! PS. This drawing was not the Bullish triangle i am referring too i erased it to clean up the chart a bit, we have taken out the 0.2 FIB level and we have had multiple retests with us being successful everytime, another key level we have successfully regained is the 3667$ and again we have had multiple retests succeeding. The next big test we are facing is the 4k level or aprx 3990-4000K level we have had one touch so far and we're rejected but we are still looking strong and seem to be taking a little cooldown resting on our current support level until we make our next move upwards! We also have uptrend support coming from around 2800$ and we have respected it all the way up till now, i see us holding onto this level following it upwards and ultimately i am looking for a reentry of our ascending channel shown above and then eventually the 0 FIB of course coming from our ATH! Looking at our Bollinger bands we seem to be inna very nice spot with price action well above the midline and not far away from that top band, i think we could be in for a rollercoaster ride up the top BB since we have not seen one in quite some time and we keep on wicking too the very top, likely just a matter of time before we have a nice upside day then eventually grabbing onto that top band taking it for a ride likely up towards that 0 FIB level, if the momentum is there i don't see us having too many problems shredding through this level and creating a new ATH and aswell entering price discovery mode! Looking at the Reversal Momentum Indicator we are in a slight downside right now but we see the orange curling heavy to the upside and coming towards the blue, we don't want too see a bearish reversal with the blue going under the orange but we could definitely see a little fakeout where we get a nice bounce off of the orange to continue this upside climb! Checking out the ADX we are looking good and seem to have found some footing a decent bit below our previous high, we are starting to turn to the upside with the direction looking to start an overall reversal after having some significant downside. A must watch for Ethereum is price action grabbing onto that top bollinger band, the RMI getting a bounce and keeping the blue ontop, and aswell the RSI which isn't currently on the chart, we need to stay above the midline to continue the uptrend, we are significantly above the midline currently near the top of the zone so thats why i decided to leave it out of this TA but always keep an eye on that! Not financial advice just my opinion!
