Ethereum preparing for new all time highs

0
28
Ethereum preparing for new all time highs

Ethereum preparing for new all time highs

Ethereum bulls have managed to recapture the $1,900 level. Trend remains bullish as price continues to make higher highs and higher lows. There are some warning signals by the RSI but nothing more than a warning. As long as price continues to respect the support levels, trend will remain bullish.

Ethereum preparing for new all time highs

Black line – support

Blue lines- bearish RSI Divergence

With price making a new all time high in closing prices, ETH/USD price pattern seems ready to explode higher. The RSI has a different opinion but as long as price is above the black trend line support, bulls have the upper hand. Support by the black trend line is at $1,660. Next upside target for ETH/USD is at $2,200.

The material has been provided by InstaForex Company – www.instaforex.com

Source : https://www.fx.co/forex_analysis/quickview/214803/