- Breaking above the WL3 represents a long signal!
Ethereum is trading in the red on the H4 at the time of writing but the bullish bias remains intact. The price could drop only to retest the near-term support levels before jumping way higher.
Technically, ETH/USD has broken through significant resistance levels, that's why I'm expecting to see a further increase. The crypto should approach and reach new highs as long as Bitcoin's price continues to grow.
ETH/USD Price Action Signals Further Growth!
ETH/USD has retested the broken third warning line (WL3), the up channel's resistance, and the Pivot Point (1,747) level confirming this as strong support levels. I've told you in my previous analyses that the pair will continue to climb if it makes a valid breakout above the WL3 and if it stays above the red upside line.
The PP retest could represent a long signal. Buying again will be possible from these levels, having the fourth warning line (WL4) as a target.
Ethereum Trading Tips!
Buy from above 1,839 yesterday's high and use the R1 (1,928) and the R2 (2,056) as potential targets. Hide your Stop Loss below 1.660 former low.
R3 (2,237) should be used as a target if ETH/USD makes a valid breakout above the WL4.
