ETH finally breaks out after half a month of consolidation within the ascending pattern.
Continuation of momentum through 50/100EMA should be enough to bring us back into the 2500s.
However with 50EMA indicating the better short-term average we can expect some resistance at the current 2450, likely dropping us back to 2380.
Still, this is good sign overall and remains in-line with the bullish cycle start from the prior breakout at 2145.
It's also still possible to hit the 2750 crossover target keeping in mind that wedge resistance will be stronger past this point.
www.tradingview.com/chart/gDBkksfy/
Continuation of momentum through 50/100EMA should be enough to bring us back into the 2500s.
However with 50EMA indicating the better short-term average we can expect some resistance at the current 2450, likely dropping us back to 2380.
Still, this is good sign overall and remains in-line with the bullish cycle start from the prior breakout at 2145.
It's also still possible to hit the 2750 crossover target keeping in mind that wedge resistance will be stronger past this point.
www.tradingview.com/chart/gDBkksfy/
