Technical crypto analysis based on breakout – Wait for a pullback towards $655.11

ETH –

Wait for a pullback towards $655.11

Technical Observation

For the first time since February this year, the daily candle has gone above the 152 Simple Moving Average. Most importantly, the price is above a key daily support line $685.11, Unless there’s a clear break below the 152 SMA and most importantly below $670.71, I expect a spike to the upper side. My overall opinion is that the price should first retrace towards 670.71, before taking off to the upper side. On its way to the upper side, the key lines to look for include $889.70, $1,205.70, $1,387.50. Should the price get above the last line, I expect further surge upwards.

Trade Signal.

Wait for a pullback towards $655.11 then buy ETH towards $1,387.50

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