FX.co ★ Ethereum reaches our target from April 1st

On April 1st in our analysis we noted that our next target is $2,200 for Ethereum as price was recapturing $1,900. Yesterday price reached $1,197 just $3 from our target. Ethereum remains in bullish trend as price continues making higher highs and higher lows.

Red lines - Fibonacci targets

ETH/USD is respecting the medium-term upward sloping black trend line. Price is bouncing off the trend line and is making new all time highs close to $2,200. There are some warning signs by the RSI as price is making new highs but the RSI is not. As long as price holds above the black trend line bulls will remain in control of the trend. Next upside Fibonacci target is at $2,600. However a pull back towards $1,900 should not be ruled out yet.