For over a month now the price of Ethereum has struggled at a certain price area. It is currently at this point again and has found some early resistance.
Ethereum and the $275 Brick Wall
I have posted the weekly chart of ethereum here as it gives us a clear view over the last 5 weeks of how the $275 area has been a problem.
Here’s the thing though, there is so much pent up action at that price that when it does break ETH is likely to give a burst higher. Upside targets would be 293 and then 318 with the larger one being up at 370.
This assumes we get some kind of run after finally breaking through the $275 area, which is yet to be seen.
With BTC running and LTC already having made it’s run, maybe it is time for ETH to do the same.
Guess we shall see….