Many alt coins are going through slow-style setups and my trader friends are getting impatient. Ether is definitely one of them. It has a strong setup, but is devoid of enough buyers right now to push it. Volume is low. I see nice i-ii potential that projects to $128 right now. On Elliotwavetrader.net, a site I belong to, I have spoken about the importance of the $120's for some time. It is potentially an important top. The alternative to this setup is a drift down to the $78, which would lower the projection slightly. That is the normal target for a wave ii, but so far this consolidation has remained 'high and tight' and breakout may happen at any time. .
A reference on how I trade: https://steemit.com/cryptocurrency/@wildtrader/how-i-trade-cryptos-using-elliot-wave-theory
ETH: 0x214100463968649031A9D6E6A6C5B9aDdE540e29
BTC: 14Y4V2hFUKzQZe3rVJ8cTphv583FiRvgqS