30
$ETHUSD - Testing prior resistance around 1878
Watching $ETHUSD here. We've pushed up to test the prior day's high at 1878.6926. This area has acted as resistance before, and while we're above it right now, the follow-through isn't exactly convincing. I'm looking to see if we can consolidate above this level, perhaps even dip back to retest it as support. If it holds, we might have room to run. But if we lose that 1878 level convincingly and start putting in lower highs, then the scenario of a breakout would be invalidated for me. It'd suggest a failure to convert that resistance, possibly indicating a retest of the lower end of today's range, maybe even towards the 1848 mark.
0 comments · 30 points