Ethereum has smashed through all technical levels that we have drawn and has hit our profit target of $3473 on some exchanges. ETH should definitely see some resistance here, as it has appreciated by almost 50% over the past two days. We do appear to be feeling out the current range right now, and perhaps making another run for those highs. We should see a 'dragon head' pattern forming here soon, with support at $3186, or $2962. Observe how well the Fibonacci's align with the technical levels. This confirms their significance. It will take sufficient momentum to break through them. Our next target is $3646.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.