POTENTIAL BULLISH MOVE!
Ethereum on the 4 hour broke out of channel 2 which was a downwards channel which is bearish. Then it broke back above the main channel 1 which is bullish and is currently holding as support.
ETH needs to break above R1 and claim as support at $3650 then it can start its rally towards the previous ATH.
Breaking through Resistance levels R1,R2,R3,R4 is going to be very difficult but once they are broken we can break ATH and then go into a parabolic move into price discovery.
If ETH has a retracement it needs to hold S1 at $3450, if this breaks then it needs to hold the lower support at channel 1 at $3100. If this fails then it needs to hold S2 at $2920-3000.
Safe trading.
ETH needs to break above R1 and claim as support at $3650 then it can start its rally towards the previous ATH.
Breaking through Resistance levels R1,R2,R3,R4 is going to be very difficult but once they are broken we can break ATH and then go into a parabolic move into price discovery.
If ETH has a retracement it needs to hold S1 at $3450, if this breaks then it needs to hold the lower support at channel 1 at $3100. If this fails then it needs to hold S2 at $2920-3000.
Safe trading.
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