quantguy

Ethereum Recovery??

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BITSTAMP:ETHUSD   Ethereum
Ethereum appeared to be making a run for the $1K handle, but found support at our level at $2143. A green triangle on the KRI confirmed support here. After that, we saw a nice rally back to the value area in the $2400 handle. We appear to be stabilizing between $2402 and $2556. The Kovach OBV is still pretty flat, after an abysmally bearish run, but does appear to be lifting slightly which would indicate that we have found a bottom for now. If so, $2651 and $2762 are the next targets. If things turn south again, then $2143 should continue to provide support. There are a few levels after that, but if these break, we could see the $1K handle soon.

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