FX.co ★ Ethereum challenges cloud resistance.

Ethereum is trading around $2,900. Price has penetrated inside the Daily Kumo (cloud) changing trend from bearish to neutral. Bulls want to break above the resistance of $3,020 and stay above the cloud.

If bulls manage to break above the cloud, trend will change to bullish. Support is found at $2,740 and $2,670 by the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). Bulls do not want to see price exit the cloud. They want to see price break above the Kumo in order to produce a new bullish signal.