Can Ethereum Break Through Resistance??
Ethereum rejected our level at $1653, breaking through the next level below at $1547. It found support at the base of the $1500 handle, just above our next level at $1424. Currently, we are making another run for $1653, but many red triangles on the KRI are signalling strong resistance here. The Kovach OBV has picked up but does not seem sufficient to break the resistance. If not, then we could retrace back to the low $1500's or $1424. If we are able to break out we will meet swift resistance from a cluster of levels in the high $1600's and low $1700's. If we are able to punch through that, which will take significant momentum, then $1821 is the next target.
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