Bullish Pennant in ETHUSD

٢٨ يناير ٢٠١٧

ETHUSD has been spending some time now above its 200 day MA since crossing below in 2016 on bearish momentum fueled by DAO hacking. It appears that a bullish pennant has formed. Additionally, the resistance line is above the 200 day ma. I believe that there will be a continuation of the trend that pushed Ethereum out of the sub $10 range.