After a massive run in the cryptocurrency markets over the last couple weeks, Ethereum has formed a healthy pullback. After topping out at $710 two days ago, Ethereum fell all the way down to $600. Since then, Ethereum has formed a beautiful consolidation wedge pattern of lower highs and lower lows.
Within the last 15 minutes Ethereum broke out to the upside! Look for Ethereum to break out above $650 shortly, and then continue the uptrend.
I suspect that Ethereum will fill the gap, and break above the recent highs within the next couple of days. That move implies more than 10% upside from here! $640 is a fantastic entry for a short trade, or longer term position.
Thanks for reading, and I hope you have a great day!