The cryptocurrency rallied since Monday and has managed to jump much above the 860 previous highs. Ethereum has finally managed to reach the $1000 and to jump above another potential dynamic resistance. The rate climbed as much as 1010 level, but failed to stay there and now is trading near the 930 level.
Remains to see what will happen in the upcoming hours because it could close the week above the 950 level. The current retreat was somehow expected after the impressive rally, could retest a dynamic support (resistance turned into support).
The rate has resumed the upside momentum and has managed to jump above the WL2 of the ascending pitchfork. It should resume the bullish movement if stays above the broken dynamic resistance. However, it could retest the WL2 before will make new highs. Only a drop below the WL2 followed by a retest will signal a corrective phase in the upcoming days, but this scenario is less likely to happen because Ethereum has become very attractive.
I’ve said in December that Ethereum and Bitcoin should reach new highs despite the minor drop, Bitcoin has started to increase as well and cold reach historical highs very soon.
Original article and pictures take i0.wp.com site
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