ETH 12H price action has been conforming to this rising channel since late December.
Since the channel is so well established, breaking through channel resistance will be significantly bullish and likely indicate a rapid move toward $2k psychological resistance.
A rejection from channel resistance will mean near term consolidation while maintaining the uptrend.
A relatively safe short entry could be had here with a stop placed above channel resistance (though with the sector as bullish as it is this week, make that stop tight).
If ETH confirms closing above the channel it will almost certainly back test the resistance turned support, at which point a relatively safe long entry could be had with a stop placed under resistance.
Since the channel is so well established, breaking through channel resistance will be significantly bullish and likely indicate a rapid move toward $2k psychological resistance.
A rejection from channel resistance will mean near term consolidation while maintaining the uptrend.
A relatively safe short entry could be had here with a stop placed above channel resistance (though with the sector as bullish as it is this week, make that stop tight).
If ETH confirms closing above the channel it will almost certainly back test the resistance turned support, at which point a relatively safe long entry could be had with a stop placed under resistance.