Technical crypto analysis based on breakout – Look for long positions towards $700.75.

ETH –

Look for long positions towards $700.75.

Technical Observation

Ether is still rallying above the three Simple Moving Average (14, 52, 152). Unless the price clearly breaks below the lower 152 SMA, with a big red candle, I expect a rally to the upper side. On the way to the upper side, the key lines to look for possible reversals include $588.55, $625.95 and $700.75. If these lines are breached, then the price will likely push higher to $1,500.00. On the contrary, in case the price breaks below the 152 SMA, then I’ll wait for a confirmation that the price will continue to the lower side with the first target at $420.25 and the next at $364.15.

Trade Signal.

Look for long positions towards $700.75.

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