Last night Ethereum broke out! After several tests of the resistance level, Ethereum finally broke out of its week long consolidation!
Ethereum's breakout was confirmed when it spiked through $700 on high volume! The 10% move higher has sparked a rally in most other major cryptocurrencies.
Bitcoin just broke out of its long term consolidation after Ethereum paved the way. I expect this rally to spread through the rest of the market as Bitcoin and Ethereum continue to move higher.
Ethereum and Bitcoin could rally all the way up to $880 and $11,300 respectively, so hop into your favorite coins and hang on for the ride! I would highly recommend taking this opportunity to buy your favorite coins (especially if they haven't broken out yet!).
Thanks for reading! :)
Disclosure: I am long Ethereum and Steem
