Bull Wedge in Ethereum??

4 Jan 2022

Ethereum caught a lift from the $3700's. We had appeared to be testing lower levels, heading for $3646, a level we have mentioned many times here. But we seem to have caught a strong bid, as confirmed by both Kovach Momentum indicators. We seem to be set to test $3861 once more, which seems to be a hard upper bound for ETH at the moment. Nevertheless, it appears we are forming a bull wedge bounded by this level from above, which suggests that ETH could be gearing up for a breakout. If so, we could be gearing up to make a concerted effort to reach the 4K handle again, with $4020 the next target.