- Looking at the 2-Day chart we see $470 is the start of the valley that was created in August 2018 and to this day still hasn't broken out of it
- Last summer the price of ETH hit around $4460 and never even got a daily close above $316.
- This year we had the coronavirus wave down which we found the 2nd swing high of the downtrend drawn on the chart.
- Now the price broke out of the downtrend pretty aggressively and broke through every resistance $276, $316, $369, $385 and touched $415
- Now i'm thinking that this move upwards is legit because we're almost at 2-year highs which would be huge for ETH and would bring some heavy fomo into the crypto space. If ETH goes and breaks above $470 it's wraps
- It's going to moon if it breaks out of $470
- For now the price is consolidating on-top-of $385 and you can see that in the smaller timeframes. Trading in the range of $385-$415 at the moment.
