Finally, the crypto world has moved. We have seen Ethereum finally pushing back above the 110.00 barrier and almost testing the 150.00 zone. For now, we believe there might be a bit of retracement to the downside first, before we see another leg of buying. If the price remains above the newly-established short-term upside support line, we will continue targeting higher areas. But the biggest battle could be around the 160.00 area, which held the price down in December and January.
@Jour, it would be difficult to say, but if we measure it from the recent low, around 115, to the recent high, around 149, and assume a 50% retracement on the Fib, this could fall around 132.00. This could also allow the crypto to remain above the tentative upside support line. But that's pure speculation, as it could just retrace about 26.3% and lift off again.
But we will take a more bearish approach from the short-term perspective, if the price falls below the 125.00 level.
Jour
⋅
@JFD_Research, THX, agree, but now we have a lot of hype :) again so maybe we can turn at higher point
JFD_Research
⋅
@Jour, as mentioned in the initial text, 160 area for us is where the big battle may occur, even though a lot of traders are looking at 150. But, of course, no one has a crystal ball, so let's see what happens.