Anticipating upside potential on Bitcoin, if price breaks out of the current consolidation...This could result in ETHUSD trading higher as well.
However, for ETH, the price has been in a wider range, while also bouncing off the bullish trendline.
A breakout could only be signaled if the price breaks above the 1858 price level which coincides with the 23.60% Fibonacci retracement level.
Price could climb toward the immediate key resistance level at 1890, the 38.2% Fibonacci retracement level from the longer term. Beyond that, the next key resistance level is at 1940.
However, for ETH, the price has been in a wider range, while also bouncing off the bullish trendline.
A breakout could only be signaled if the price breaks above the 1858 price level which coincides with the 23.60% Fibonacci retracement level.
Price could climb toward the immediate key resistance level at 1890, the 38.2% Fibonacci retracement level from the longer term. Beyond that, the next key resistance level is at 1940.
