Ethereum is trading around $1,865 having broken above the recent trading range it was in for the last 3 weeks. Current price action is bullish. We get a bullish signal by the current candlestick as long as price stays above $1,850. Ethereum has made higher highs and higher lows. This price behavior is bullish and promising for the next couple of weeks. Support is at $1,760 and bulls do not want to see price fall below this level. As long as this support holds, we can expect Ethereum to push higher towards $2,100-$2,150. Failure to hold above $1,850 would be a bearish sign, implying that the break out was a trap for bulls.
The material has been provided by InstaForex Company – www.instaforex.com
Yellow rectangle- trading range
Ethereum is trading around $1,865 having broken above the recent trading range it was in for the last 3 weeks. Current price action is bullish. We get a bullish signal by the current candlestick as long as price stays above $1,850. Ethereum has made higher highs and higher lows. This price behavior is bullish and promising for the next couple of weeks. Support is at $1,760 and bulls do not want to see price fall below this level. As long as this support holds, we can expect Ethereum to push higher towards $2,100-$2,150. Failure to hold above $1,850 would be a bearish sign, implying that the break out was a trap for bulls.
The material has been provided by InstaForex Company – www.instaforex.com
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