Ethereum Hangs on to $1100
Ethereum has been meandering between the $1000's and the $1100's since the end of June. We saw quite a bit of resistance confirmed by red triangles on the KRI at $1100, but were able to break through. However, we fell short just below $1235, ranging about midway between this level and $1100. The lack of buying interest is concerning, but the consolidation of volatility may suggest a breakout is near. The Kovach OBV is trending upwards, suggesting a bull divergence. If so, $1235 is a likely ceiling.
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