ETH/USD Prices have broken out from a downward trend line on 25th of Jan 2018 and is trading within an upward price channel.Prices are currently approaching 1100 a critical resistance price point which might determine the short to medium term direction. Prices need to break and hold above the current resistance before we could see further moves to the upside. Failure could see prices fall to the support trend line or down to around 1030 support level
Comment:
10.49AM 28/01/2018 - We can see some progress in the trading activities after my original post two days ago. Prices dipped below the price channel to around 985.00 but have recovered are now back above the price channel and currently trading just above 1100.00 resistance price point. The next resistance level is at around 1159.00