ETH/USD is trading at the 2,101.45 level trying to break a dynamic resistance after invalidating a new strong drop. The bias remains bullish after passing and stabilizing above 2,040 former all-time high.

Ethereum should jump higher if the price of bitcoin continues to increase after its temporary consolidation.

ETH/USD Towards Fresh Historical Highs!

analytics606d4a88cdcf7.jpg

ETH/USD is trying once again to break above the first warning line (WL1) of the former descending pitchfork after retesting 2,040 broken resistance.

It istrading far above the weekly pivot point (1,966) signaling a potential growth towards the R1 (2,255) if it closes and stabilizes above the warning line (WL1).

ETH/USD Forecast!

A bullish closure above 2,151 yesterday’s high on the H4 chart is could represent a buying opportunity with a first target at the R1 (2,255).

The upside scenario could be invalidated only by a valid breakdown below the pivot point (1,966).

The material has been provided by InstaForex Company – www.instaforex.com

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.