quantguy

Ethereum Breakout Soon??

Long
BITSTAMP:ETHUSD   Ethereum
Ethereum is continuing to see support at $2400, which appears to be the apex of a pennant type pattern. This is a consolidation pattern which suggests that volatility is narrowing and we could potentially see a breakout soon. We will see support from $2232 or $2143 from below if it breaks down. On the upside, $2556 and $2651 will provide resistance if we break out. These levels have proven themselves difficult for ETH in the past, and we still have $2800 to consider after this. These are the challenges ETH must overcome before considering $3K again.

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