Hello guys,
The ETH/USD broke above the big falling wedge formation that was in the making since February this year and closed at $198 on Sunday. This was the end of an impressive week, during which it added 10 percent to its value.
The coin is currently trading above the 100-day EMA and I expect to see a short pullback, but not below $188, which is where the diagonal line is hitting the horizontal support and the mentioned EMA.
The next target up for bulls is the zone around $215, while bears will try to push us back below $188.
Cheers,
The ETH/USD broke above the big falling wedge formation that was in the making since February this year and closed at $198 on Sunday. This was the end of an impressive week, during which it added 10 percent to its value.
The coin is currently trading above the 100-day EMA and I expect to see a short pullback, but not below $188, which is where the diagonal line is hitting the horizontal support and the mentioned EMA.
The next target up for bulls is the zone around $215, while bears will try to push us back below $188.
Cheers,
