Is Ethereum Ready to Rally? Ethereum Technical Analysis

As of the time of Writing Ethereum is sitting at 2075 dollars, up 3.7% in the last 24 hours.

Yesterday, Ethereum established a new higher low sitting at 1926, before quickly rallying back up all the way to 2092 $

Ethereum's impulsive bounce off the support area at 1926, is very promising.

We have also crossed the 2052 descending trendline, which should push us higher.

We should push Higher !

If we do cross 2092, Ethereum will test the next resistances sitting at 2120, then 2150.

If Ethereum does not reject the 2150 level, we could extend much higher with FOMO taking place as it would be a new yearly high for ethereum.

This could theoreticaly bring us all the way to the 2450-2500 level!

Losing the 2050 level could bring us down to the next regional support of 1990, if we break that 1940 is the next support level.

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The last 24 hours have been rather telling of the potential direction that ethereum is heading, however, we are not out of trouble just yet...

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