ETH/USD daily price analysis


According to the opinion of financial analyst Peter Smith Ether (ETH) has broken out of the overhead resistance at $320.840. He thinks that If the bulls close the price above this level, it will complete a rounding bottom pattern, which is a reversal formation and has a target objective of $557.43.

Both the moving averages are trending up and the RSI is in the overbought zone, which suggests that the bulls are in command. Peter Smith from will wait for a retest of the breakout level before recommending a long position in it. The ETH/USD pair will indicate weakness if the price reverses direction and plummets below $320.840.


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