As we can see from the graphical illustration, ETH has found strong resistance at the area of the previous ATH. The price is stuck and ranging between the powerful level of resistance and the previous Lower Timeframe Higher High. We should patiently wait for the consolidation phase to end before taking our next step. If the price manages to break the level crucial resistance, we will expect for the price to continue rising. On the contrary, if the price breaks the previous Higher High and re-tests the structure, we will be aiming for Sell positions.
On the long run, our prediction is still bullish. However, as the price has reached the zone of the previous ATH, some drop is needed before further upside movements happen.
On the long run, our prediction is still bullish. However, as the price has reached the zone of the previous ATH, some drop is needed before further upside movements happen.