Ethereum remains inside bullish channel since mid September.


Ethereum is trading at $4,339 and continues making higher highs and higher lows. Price is still inside the upward sloping channel that was created after the low in mid September around $2,639. As long as price continues to respect the channel boundaries, bulls will remain in control of the trend.

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Blue lines - bullish channel

Ethereum as we said above is clearly in a bullish trend. Support by the lower channel boundary is at $4,045. A break below this level will be a sign of weakness and could signal the start of at least a pull back. Until then bulls remain in full control of the trend and should target the upper channel boundary at $4,625.




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Alexandros Yfantis
Analytical expert of InstaForex
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