Ethereum still riding the bullish channel

Ethereum is trading today at $1,812. Price is very close to monthly and all time highs. Trend remains bullish as price continues making higher highs and higher lows inside the bullish channel. As long as price is above $1,610 trend remains bullish.

Name: e-a-170221.jpg Views: 4 Size: 49.8 KB

Blue lines - bullish channel

ETH/USD short-term support is at recent low at $1,650. Channel support as we said above is crucial and at $1,610. Resistance is at $1,872 the recent all time high. There is potential of a move towards $2,000 as long as price is inside the bullish channel. The RSI is providing bearish divergence warning signals, so traders need to be very cautious and protect their longs.



Name: s_alexandros_yfantis.jpg Views: 5 Size: 2.5 KB
Alexandros Yfantis
Analytical expert
InstaForex Group © 2007-2021