Ethereum Just Cracked the $100 Mark – Is it the Last of Double Digits?

Ethereum Just Cracked the $100 Mark – Is it the Last of Double Digits?
December 19 03:52 2018

A quick 20% rally and boom – ethereum is back above $100.  Let’s take a look at what transpired and what we can potentially expect going forward.

The Other Side of the Mountain

Not that ethereum has made it back down the otherside of the mountain let’s see if it can find it’s footing.

Below is a longer view of price so that you can see where that $81 area support came into play.  May of 2017 it was a solid consolidation area and has done the same presently, holding strong to allow for the bounce we are now having.

Triple Digit Dance

Holding the $81 area support and rallying 20% is more than welcome.  However, there is still work to do before the price trend changes positive.

The first step is to test that last little high around $122 and if price can establish there then make a run at that prior support level around $168.

That right there is what needs to happen for us to legitimately have a change in price action to positive.

On the downside, the psychological $100 level is always worth noting and having this candle close above it and hold for a few days is ideal, but we need to remain above that $81 level for a bit and atleast keep basing.

Anyway, it’s just nice to see ethereum back in the triple digits – here’s hoping it leaves $100 in the rear view.

 

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scaredycatguide
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