#ETHUSD Can See $680 Levels In Near Term - 4 Hour Chart Update
ETHUSD has been moving nicely higher since my last update on it -->
So if anybody got it, you should be doing well.
Currently, ETHUSD has broken the important falling trendline to the upside which could indicate more strength overall.
However, I am now looking at 2 potential possibilities EHTUSD can do.
First one will be the more corrective nature. Markets tend to retest the broken trendlines first before they start taking off. So it can be the case that ETUSD goes for a deeper correction into the 50% Retracement area first before turning higher.
The second possibility will be a direct breakout higher. If it takes the short-term trendline to the upside without making a new low below 574.82. I am expecting EHTUSD to rally to at least the areas of 665.36 and even higher before it should pullback.
At this stage, it does not really matter which path it takes to be honest because either way, I am expecting more upside.
Hope this helps and I wish you all a nice weekend.
Cheers
So if anybody got it, you should be doing well.
Currently, ETHUSD has broken the important falling trendline to the upside which could indicate more strength overall.
However, I am now looking at 2 potential possibilities EHTUSD can do.
First one will be the more corrective nature. Markets tend to retest the broken trendlines first before they start taking off. So it can be the case that ETUSD goes for a deeper correction into the 50% Retracement area first before turning higher.
The second possibility will be a direct breakout higher. If it takes the short-term trendline to the upside without making a new low below 574.82. I am expecting EHTUSD to rally to at least the areas of 665.36 and even higher before it should pullback.
At this stage, it does not really matter which path it takes to be honest because either way, I am expecting more upside.
Hope this helps and I wish you all a nice weekend.
Cheers
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