Ethereum has been in a clear uptrend since the beginning of the month. Trading within this channel has amounted to a charge up with ATH set, followed by a retrace towards the bottom channel line. After momentum changes on the downtrend, it marches back up to an ATH , then retracts.
The movement has been pretty consistent, and we're seeing the rebound from the lower channel attempt now. This attempt should mark a strong thrust upward as buying will spike near $1450, with people trying to long price discovery . Entering at $1340 with a target of the fib level at $1551. If momentum is strong I may keep a portion in for the potential ride to $1640.
This is not investment advice and trading cryptocurrency is high risk
But I still believe facemelting will happen. ETH has to milk everything it can out of its network effect while 3rd gen blockchains with small fees build out theirs.