ETH/USD registered an amazing rally and now is trading at 1,871. It has retreated a little after reaching 1,933 today's high. ETH/USD increased by 19.18% from last Thursday's low of 1,622 to 1,933 daily high.
Bitcoin's strong growth forced the altcoin to grow as well. Ethereum is up by 1.52% in the last 24 hours and by 14.25% in the last 7 days.
ETH/USD Natural Retreat!
ETH/USD escaped from the major down channel pattern signaling an upside reversal. Now, it has found resistance at the 1,927 former high. It has registered a false breakout with great separation, so now it could come back to test and retest the R2 (1,853) and the downtrend line.
As long as it stays above the downtrend line, the altcoin could extend its growth. The retreat is natural as the rate could test and retest the near-term support levels trying to accumulate more bullish energy.
ETH/USD Outlook!
A new higher high, a valid breakout through 1,927 activates further growth and is seen as a buying opportunity.
