We'll examine the weekly chart since this is more of a macro view. We could move up rather quickly similar to last April of 2018, so I want to zoom out and get some perspective.
Lets first start by looking at . We have a steady that is picking up steam. This indicates strength that we are just starting to really move towards the upside.
Next is . We are still quite a ways from being in oversold territory. This is another strong indication will get a push further to the upside.
Now that we have confirmation of strength from those 2 main indicators we can look towards the next resistance points. The first we are breaking through as I right this. The 220-240 area. Once we break that we have 300. However, 300 is relatively minor. It didn't prove to be much of support at all on the way down. I would expect that will stall there a little, but ultimately blow through it rather quickly. Which leads us to our ultimate target of the 450 area, maybe 500. This is an over lapping fib point, resistance point and if we gauge last April's move, while certainly different percentage wise, they can be very similar in magnitude.
Lastly, ETH/BTC . Really low right now. BTC is very high. Makes sense for people to start shifting over to ETH as we already are seeing. This will continue to drive ETH further to the upside.
Happy Trading and hodling,
And previous analysis: