Ethereum Tests Higher Levels
Ethereum has inched above the highs of the range it has been holding since the giant sell off from the 
4K handle. We had established the highs of the range around $3550, but are currently testing $3646. A red triangle on the KRI indicates that we are seeing some resistance at this level. This is a significant level because it is one of the last levels in the 3K handle and it is the 0.618 Fibonacci retracement level of the selloff from relative highs. Thus it will provide strong resistance. It is going to take some momentum to punch through. The momentum appears weak at the moment so it is doubtful we will catch enough steam to punch through this level.
4K handle. We had established the highs of the range around $3550, but are currently testing $3646. A red triangle on the KRI indicates that we are seeing some resistance at this level. This is a significant level because it is one of the last levels in the 3K handle and it is the 0.618 Fibonacci retracement level of the selloff from relative highs. Thus it will provide strong resistance. It is going to take some momentum to punch through. The momentum appears weak at the moment so it is doubtful we will catch enough steam to punch through this level.
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