ETHEREUM (ETH/USD) One Of The TOP Gainers & The Trendline Party!

Ethereum has made a 33% increase since 12.09, it bounced upwards from $170 and now the current price is around $215. The bounce came from the sharper trendline area. After the bounce, we got from the daily timeframe a nice bullish candlestick pattern called "Morning Star" and this momentum gave a boost to break back above the blue trendline, above the $200, above the orange resistance level, above the 50 EMA (on the one- hour timeframe it trades above all the EMA's - 50, 100, 200).

Currently, the price sitting on the Fibonacci retracement level 38 percent and it approaching the trendline (dark red) which is pulled from 01.04.2018 and could start to work as a resistance. Above the current price are heavy resistances after another:
1. The longer and smoother trendline since 01.04.2018 - $225
2. Previously worked resistance - $230-$234.5
3. Fibonacci retracement 50 percent - $235
4. The trendline since 29.06 - $237-$241

If we can beat those levels then the Ethereum' panic selling could be over!

Hopefully, those levels and this analysis helped You out a little bit to confirm Your own analysis!
Please, don't forget to hit the LIKE button to support us!
Best regards!

Commentaire:

Currently, the price is in the strong area which was before a resistance and now it becomes a support! If the market holds then this is a perfect breakout trade - breakout + restest and let the climb continue!