Compared to other altcoins, Ethereum is looking pale for the last two days, but the devil is in the details and, despite first impressions, investors have not been wasting time. First of all, without any unnecessary fuss, the range $490 - $530 has been traded, now becoming a a launching pad for further price movement. Second, the ascending channel received another confirmation.
The price is attempting to leave the completed figure, the dimensions of which are pointing to the perspective target of $615. The path to Olympus is a long one, and the bulls will encounter a number of obstacles, which are also intermediate targets - $550, formed by the 0.382 value of the Fibonacci expansion and $580, confirmed by the closest significant mirror level. A fallback from the current positions by breaking downward through the ascending channel is possible but unlikely. In that case, buyers will find support in the range of $480 - $490.
Check the full crypto analysis HERE
The price is attempting to leave the completed figure, the dimensions of which are pointing to the perspective target of $615. The path to Olympus is a long one, and the bulls will encounter a number of obstacles, which are also intermediate targets - $550, formed by the 0.382 value of the Fibonacci expansion and $580, confirmed by the closest significant mirror level. A fallback from the current positions by breaking downward through the ascending channel is possible but unlikely. In that case, buyers will find support in the range of $480 - $490.
Check the full crypto analysis HERE
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