Ethereum has broken above a key resistance zone and is likely on its way to $700-$800.
On the chart we marked this as the next strongest resistance zone. There is hardly any resistance until we get to this area. I find it likely that we will reach $700 in the short term with ease.
I made sure to circle two areas on the chart. At both of these points we’ve seen a strong bounce from around $380. At the first bounce we’ve seen price rise from $380 to ~$800.
I find it likely that we will see a similar outcome happen this time as well.
This trade appears to be low risk with high potential for reward.