🔥 Ethereum Horizontal Channel

ETH has been forming a horizontal channel on the H1 chart. It saw a false break-out on the 12th, which lead to the price coming back to trade within the channel.

After this morning's BTC fall, ETH touched the lower support of the channel, which held. It appears that ETH is going for the top resistance level again. Either of two things can happen, ETH breaks out of the channel and continues its way toward $1950-$2000, or we fall back towards the support of the channel around $1750.

Happy trading!