Cryptocurrencies

Ethereum Breaking Out on No Volume, Meh.

As you can see from the title I’m a bit of a skeptic on Ethereum’s move through resistance today.

At the time of this writing we still have more than an hour before the daily candle closes so I guess we need to see if price even ends above that $168 area.

Test and Break?

Crypto’s move last week saw ETH poke above this level only to get rejected.  Since then price consolidated for a few days and is now making that breakout push.

Normally I’d be loving it, but the lack of volume doesn’t make me all that excited although the move does look orderly.

Guess we will have to wait and see what happens the next 24 hours.  I actually did lighten a little yesterday in the mid 160’s but still hold a core position in case we do in fact push higher.

 

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