ETHEREUM - Inverted Head & Shoulders + Support and Resistance.
Despite Bitcoin's recent upsurge in price, altcoins and Ethereum seem to be staying relatively stable and unaffected by the BTC's rise. From what I have been able to indicate Ethereum is still bullish, forming an inverted Head & Shoulders pattern if we can break this resistance we could be heading towards the $340 - $350 mark. However, there is still room for a slight pullback to the support level before a run-up may occur, if Bitcoin loses some value we could see Ether's price reacting positively as people tend to diversify their money into other cryptocurrency's to prevent losing money from a sell-off.
As always, trade accordingly.
- Orange Line - Resistance levels.
- Purple Line - Support levels.
As always, trade accordingly.