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02.08.202215:48 Forex Analysis & Reviews: Ethereum pulls back but remains inside short-term bullish channel.

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Black lines -bullish short-term channel

Ethereum price has been making higher highs and higher lows over the last few sessions and managed to break above the short-term resistance of $1,280 and has reached as high as $1,783. Price is inside the bullish short-term channel. Price now challenging the lower channel boundary at $1,535. Holding above this level could lead Ethereum to new short-term highs closer to $1,850. Failure to hold inside the channel could bring price towards $1,300-$1.280.

Alexandros Yfantis
Analytical expert of InstaForex
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