ETHUSD At the top of its tree in near term
Although ETH has struggled for a large part of the last 30 days, it has now doubled from a low at 313 to today's high
at 626. Not bad for a straggler. But it's probably at its upside limits in the near term here and needs to
consolidate some more below the upper parallel before it can go again. May well hammer out a small flag for the
next few hours, especially if 617 keeps stopping the next advance. To clear the way for the next advance from
hereETH would have to find enough power to beat the upper parallel and then to turn it into support on the next
retest from above once broken through. Can either close out longs here and lock in profits and be ready to buy on a
successful near term break above the upper parallel or potentially to buy again from lower down, from 577-551 range.
Although ETH has struggled for a large part of the last 30 days, it has now doubled from a low at 313 to today's high
at 626. Not bad for a straggler. But it's probably at its upside limits in the near term here and needs to
consolidate some more below the upper parallel before it can go again. May well hammer out a small flag for the
next few hours, especially if 617 keeps stopping the next advance. To clear the way for the next advance from
hereETH would have to find enough power to beat the upper parallel and then to turn it into support on the next
retest from above once broken through. Can either close out longs here and lock in profits and be ready to buy on a
successful near term break above the upper parallel or potentially to buy again from lower down, from 577-551 range.