The ETH/USDT pair has yet again bounced off the lower support line, further reinforcing it. In my last post I held the $1200 resistance as the main target to beat, and it did. Currently, the next target is $1300. When that one gets taken out, the next target is the most recent high of $1350.
With sufficient bullish action from Bitcoin, we might even see a new all-time-high in the near future. Happy trading!
do you have any further analysis? this looks like a people line and some obvious resistance...
FieryTrading
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@more_time, at the moment ETH's price is largely dependent on the direction of Bitcoin. If btc decides to shoot up to ~40k again I expect that eth will reach the first resistance fairly quickly. The purple line is important because it has been giving us a strong base for upward movement, as long as that line holds we can expect bullish action.