ETH Looking to Break Out

After returning to $400 overnight ETH continues to climb higher, currently sitting at $412.

The hourly chart looks really encouraging – to me this provides support to the theory that the “sell side” running out of steam.  I think bears wanted one more push downwards but it may have been rejected.

This could very well be the “movement starting a few days before expected” scenario, where we did hit bottom last week.

I expect more turbulence tonight and tomorrow before a real breakout starts late in the week.

Edit – check out the ETH/BTC ratio, another bullish indicator

2 thoughts on “ETH Looking to Break Out

    1. Combination of factors including recent price movements, ETH/BTC ratio, overall crypto sentiment, whale game theory, and the good ol’ gut.

      I see these as positive signs that increase my confidence that bottom is soon – if not already hit – and we’ll see a recovery in the 2nd/3rd week of April.

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