So far so good -- we're looking at a third day in a row of some nice bullish upside action. We're still very much in a bear trend though, and there's a lot of resistance levels which could throw us off. Indeed, a lot of this is still riding on Papa Bitcoin.
So far, ETH is up a little over 3% on the day. Volume was a bit slower yesterday, but I think there's a good likelihood that with this kind of follow through and continuation, we will see some bulls step up here. As mentioned previously, the weekly and daily charts were oversold. So, this could be a great sign if the follow through continues.
However, nothing is guaranteeing a reversal yet. Nothing is coming in yet to signify a trend change.
Right now, Ethereum is one of the strongest big names (obviously BCH is being crazy). Litecoin is also another strong looking name. Let's hope we can get some upside here.
A big resistance point should we break trend and make a new high is $167
Thanks for the update today
thanks so much!