ETH needs to consolidate

Dec 30, 2021

While ETH has recently broken above major trend resistance, it looks a bit over-extended and needs a breather before another major move up can happen. Having said that, we are retesting the resistance-now-support line and there may be a good day-trade opportunity with a smaller position. I'm personally waiting for a more obvious buy signal (bullish divergence on the daily or 4-hour charts) before moving more heavily into ETH. Good luck and have a Happy New Year!