This Simple Pattern Suggests Ethereum Is Preparing For Another Leg Higher
Ethereum is showing positive signs and it traded to a new monthly high at $281 against the US Dollar. ETH price likely to continue higher as long as it is above $260.
Ethereum extended its rally above the $270 and $275 resistance levels.
The price traded to a new monthly high at $281 and it is currently correcting lower.
There is a new contracting triangle forming with resistance near $272 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is likely to break to the upside and continue higher towards $280 and $288.
Ethereum Price Gaining Bullish Momentum
In the past few days, there was a steady increase in Ethereum above the $250 resistance against the US Dollar. ETH price settled above the $260 resistance and the 100 hourly simple movin...