Lorenzo Stroe
Independent Analyst
- Bulls finally managed to crack $400 on August 13 and are now comfortably trading at $246.
- Ethereum is back under consolidation and waiting for the next leg up.
Ethereum is in a healthy and sturdy bull run. The rally is robust because bulls have been able to establish clear levels of support on the way up. Ideally, a good rally should have periods of consolidation and sideways trading before going up more.
ETH/USD daily chart
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Similar to what happened two weeks ago, Ethereum is now trading sideways waiting for the 12-EMA to catch up. For now, there is a support level established at $412 and of course, the crucial $400 level.
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