Ethereum has been performing increases as the capitalisation of the crypto market was rising. It has been one of cryptocurrencies with the largest rise of the whole market.
ETH/USDT has risen more than 75% in the las 15 days. It went from $150 to $280 in this period of time.
ETH is currently hovering around the resistance R1 at 265. If the positive momentum takes over the crypto market, ETH is very likely to make a retracement to S1 at 260 and keep rising to its next stop, R2 at around 280.
In case the bull run continues, we could automate a strategy that will open long positions once volume and price rise at the same time, which would mean breaking R1 and heading to R2. With Cryptohopper we could use the indicator OBV, selecting it for our strategy, so once the OBV level rises above the blue line (made by a moving average of the OBV level), the strategy will give a Buy signal on this market.
This strategy will run 24/7 scanning this or other 75 markets.
—CRYPTOHOPPER—
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The ETH price broke R1 and went straight up to R2 and couldn't break it. It made a sharp movement of 15 points up touching R2 and performing a long upper wick, meaning that the supply is every present in that area.
Currently the price is being held in R1, the price is very likely to went up again to try to break R2 once it has made the pull-back.