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Ethereum accumulates more bullish energy

Ethereum changed little in the short term as it tries to consolidate the latest gains. It was trading at the 1,900 psychological level at the time of writing. The bias is bullish, so further growth is in cards.

In the last 24 hours, ETH/USD is up by 0.80% and by 13.81% in the last 7 days. Bitcoin dropped in the short term but now it tries to come back higher. BTC/USD's rally should force Ethereum to resume its growth as well.

ETH/USD Still Bullish!


Technically, the price tested and retested the R2 (1,861) and now it is challenging the 1,919 key resistance. As long as it stays above the uptrend line, the altcoin could approach and reach new highs.

Its false breakdown below the uptrend line invalidated a downside scenario and signaled an upside continuation.

ETH/USD Outlook!

A valid breakout above 1919.00 static resistance could signal further growth towards the 2,000 psychological level. Taking out the resistance represented by the R3 (1,972) could announce a larger drop towards 2,160.

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