ETH/USD - Key support held - Bullish! 🚀
The old ATH has acted as support and it HELD very well... ETH re-tested it's old ATH breakout and now we should be clear to go beyond 2k. This is a beautiful re-test of the previous high.
Unlikely we will need to go lower now, path higher is clear.
We also maintained our parabolic momentum represented by the yellow curve. This is all very positive.
Volume on the support line at $1,400 was very good, showing buyers came in force and defended this support well. Now the indicators are curving up and on 4h we're looking good to go higher and retest the resistance levels at $1,600 and $1,800.
It may not be a smooth way to 2k, but the trend has reversed. I'd be surprised for price to go back to $1,400 again.
Hence I remain bullish so long support holds.
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Unlikely we will need to go lower now, path higher is clear.
We also maintained our parabolic momentum represented by the yellow curve. This is all very positive.
Volume on the support line at $1,400 was very good, showing buyers came in force and defended this support well. Now the indicators are curving up and on 4h we're looking good to go higher and retest the resistance levels at $1,600 and $1,800.
It may not be a smooth way to 2k, but the trend has reversed. I'd be surprised for price to go back to $1,400 again.
Hence I remain bullish so long support holds.
Like and follow if you liked this idea! Also join my crypto community to stay in touch and watch my technical analysis videos on YouTube. :)
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