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ETH Approaching Key Zone
The breakdown in the US Dollar this week is allowing for a broad move higher in risk assets. Among those instruments seeing the most benefit is ETH which has rallied almost 20% off the lows. The brief dip below the falling wedge pattern suggests a false breakout, with potential now for a fuller reversal higher. However, the key area to watch is the 3707.5 level. This was a major ledge of support which, now broken, hangs overhead as resistance. Until this level is broken, the focus remains on further downside with a retest of this area worth monitoring for reversal patterns to set fresh shorts. On the flipside, a ... (full story)
