The last time I wrote about Ethereum I discussed this ascending channel; my thoughts then where that we might have a break out in the works. It did break out at 2425 but then closed back into the channel. It dipped into 2010 and was bought up quickly.
Ethererum buyers have retested the top of this channel relentlessly twice since the false break on 15th of April 2021. The persistent retest of the top indicates strength for the bulls.
A daily close above 2510 and retest of the trend line (channel top) as support will open the door to higher prices. Ethereum is currently in price discovery as its current price of 2620 is an all time high.
Engineer, Entrepreneur, forex trader and Analyst