Ethereum Price Technical Analysis – All Targets Hit, Play Safe

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Key Highlights

  • Ethereum price finally tested and broke my much anticipated target of $20.0 against the US Dollar.
  • During my last couple of analysis, I highlighted that the price may test or even break the $20.0 resistance level in the short term.
  • There was a resistance trend line on the hourly chart (data feed via Kraken) of ETH/USD, which was cleared recently to open the doors for more upsides.

Ethereum price finally broke $20.0, which is a sign that the ETH bulls are in control. Can it continue to trade higher or should we trade safe?

Ethereum Price Support

Ethereum price ETH continued to grind higher against the US Dollar, and managed to test plus break the all-important 20.00 level. I mentioned in my last few analysis that a test of the stated level is very likely, as there were a lot of bullish signs visible on the charts. ETH/USD popped higher intraday, and also broke a resistance trend line on the hourly chart (data feed via Kraken).

The price traded as high as $21.00 recently and currently consolidating gains. Can it continue to trade higher from the current levels? Yes, it is possible, but I would say one needs to trade safe as the price is

Read more ... source: TheBitcoinNews

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