The rate rallied and resumed the yesterday’s bullish candle and has managed to climb above an important upside target. Price increased as expected after the retest of a broken dynamic resistance and seems poised to jump much higher if will manage to close the day somewhere above the 320 level. However, the breakout needs confirmation, even if it seems determined to resume the bullish momentum and to reach fresh new highs in the upcoming period.

Ethereum has finally escaped from the range movement and now could register a broader move.

You can see on the Daily chart that the rate has jumped much above the 310 static resistance and above the 50% Fibonacci line (ascending dotted line). A retest of the broken 50% line will bring us a great buying opportunity with a first upside target at the inside sliding line (sl1) of the ascending pitchfork. Only a false breakout will send the rate towards the downside sliding line (sl2).