ETHUSDT → Channel breakthrough and retest 1942
Updated
ETHUSDT continues to strengthen. The price feels confidence from the bulls. The retest of the resistance level 1942 is formed, which breakthrough can provoke a strong momentum to 2020.
ETH has been consolidating very strongly in the 1700-1900 area lately, hence sooner or later the asset should start realizing the accumulated energy. We have the uptrend, breaking the resistance and fixing the price above the support line, hence, if the new resistance is successfully re-tested, we might see a good bullish movement towards the level of 2167, where the third Elliot wave can finish its forming phase.
The moving averages act as a strong support and together with the other factors it is a good sign.
Strong support: the previously broken through channel boundary, the 1885 level and the 1823 level
Strong resistance: 1942, 2020.
I expect the continuation of growth in the medium term with a subsequent break through resistance 1942 and strengthening of the price to 2020.
Regards R. Linda!
ETH has been consolidating very strongly in the 1700-1900 area lately, hence sooner or later the asset should start realizing the accumulated energy. We have the uptrend, breaking the resistance and fixing the price above the support line, hence, if the new resistance is successfully re-tested, we might see a good bullish movement towards the level of 2167, where the third Elliot wave can finish its forming phase.
The moving averages act as a strong support and together with the other factors it is a good sign.
Strong support: the previously broken through channel boundary, the 1885 level and the 1823 level
Strong resistance: 1942, 2020.
I expect the continuation of growth in the medium term with a subsequent break through resistance 1942 and strengthening of the price to 2020.
Regards R. Linda!
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