How High Will The Price of Ethereum Go on This Run?

Looking at the daily chart of ethereum price there are some upside target both near and far.

We've seen quite the run from the mid 300's to the current price of $600, but how much more room to the upside is there on this specific move?

Upside Targets and Pivot Points

When looking at the chart we can see alot of reversal points that are not confirmed as resistance because they are not been revisited since the big bear market of 2018.

The $825-$830 area is a clear resistance that we saw price bounce off of on the way up in late 2017, fail and crash through in 2018 and then fail to break through on the price bounce in 2018.

So that target is not only clear, but quite a ways from the current price.

Closer levels?

Looking at the chart you can see I have the $625 area marked. During the drop in 2018 that was a point where price had rallied and then ran out of steam there. It was also a price that saw a spike rally off it in early 2018.

This price also happens to be just $20 of so points from the current price.

Will it play out as any kind of resistance, who knows? But it was a pivot point in the past so it is atleast worth keeping an eye on as this current move gets rather extended in the short term with the need for a place to consolidate.

Posted Using LeoFinance ^Beta