ETH hoping to get a little help from the King!

8 בפבר׳ 2018

So far the bounce from the low has played out nicely but ETH appears to be consolidating and finding resistance $800-$815 range. It looks to me like our next target will be $917-$938 if and only if BTC is able to sustain itself and push through its $8800. RSI and MACD are not showing oversold but are showing some of the consolidations it looks like we are experiencing. The other thing that is a little concerning to me as that even though we are seeing decent volume still, it continues to look like bulls still have some energy in them. As long as we don't see a cross to the downside, and BTC can keep pushing higher after this consolidation, I think the next target is definitely in play. Should that happen, I think it is safe to say that we have been able to sustain the bounce and have clear skies for the time being. Keep your eyes on BTC though. A drop below $8000 may be enough to pull ETH back down.