Etherium has hovered from 1700-2400 range for a while, touching 1700 support thrice.
However, it is the very first time that the price has crossed 55 EMA on the daily chart.
With this EMA acting as a support line and positive news about Etherium's utility, it's only a matter of time that the 2400 resistance will break, setting a new target at 2900.
The price range is currently getting narrowed with EMA giving support at 2200, and a resistance at 2400. A major breakout is inevitable.
The trendline has also been broken, further hinting the upcoming bullish move.
Disclaimer: Trade at your own risk. Happy Trading!