Hi everyone! This is my first post~ So any feedback is welcome. I hope I can add some value to the community. I have some experience trading the stock market and have just entered into the world of cryptos and Steemit. Here is my current analysis of Ethereum.
Ethereum broke out of a massive bull pennant pattern this week and is currently hitting resistance at $500, but still looking extremely strong. Expect some choppy consolidation between the $400-$500 range until it gains strength to break the $500 barrier. I entered at ~$380. Current price target in the $600+ range depending how it clears $500 and approaches the $600 mark. It very quickly went from the $380 to the $480 mark and shows no signs of weakness. It could come down to the $370 mark and still be set up to retest and break $500. Any dip to the $420 -$400 area is a buy in my opinion. If it breaks $370-$360 start looking to get out or reduce your position.
I use tradingview to watch cryptocurrency charts, it is free and easy to use and you can draw on and manipulate the charts very easily.
