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$ETH is setting up for an interesting move.
On the 4H chart, $ETH is forming a cup-and-handle structure and is consolidating just below the $1,850 neckline.
A clean 4H close above $1,850 could confirm the breakout.
If that happens, the next levels I’m watching are $1,989 and then $2,157.
The key risk is losing the $1,707 support area.
So I’m not chasing the move here. I’d rather see $ETH break $1,850 and hold it on a retest.
That would give the setup much more confirmation.
$ETH has been outstanding and it's currently out performing BTC at the moment.
Now my plan here is simple.
Break and hold above the $2,400 level and I will be looking at $3,400 as my next target but if we get rejected here I will be looking at adding more to my spot bag at $1,748.
The key level to watch right now is $2,424
A daily close above this resistance could confirm a larger breakout.
Overall, the bias is bullish, but $ETH needs to reclaim and hold $2,424 for the next major leg highe...