First breach of the 100 hour MA since June 16
For crypto related traders, the price of Ethereum as moved above its 100 hour moving average.
Prior to the recent break, the price had moved up to test the 100 hour moving average on four separate occasions going back to June 16 (see blue numbered circles) and each test found willing sellers. Now with the move above, it tilts the bias more to the upside in the short term.
The next target comes in between $2040.91 and $2059.65. The high price today has reached around $2020 so far.
This article was originally published by Forexlive.com. Read the original article here.