Ethereum Update With Same $6K Target On Strong Bullish Breakout

٢٠ أغسطس ٢٠٢١

We have the same chart here we looked at on August 4, Ethereum aims at $6000 (see it here).

We have really strong technicals in favor of the bulls/green side.

The consolidation has been really strong with the price staying above the blue space on the chart (our "last barrier").

The price not dipping lower is a good/positive signal.

The longer we have this type of bullish/sideways consolidation at the top, the better the outlook becomes for the bulls.

Breaking below EMA21 ($3165) would be a bearish signal yet we remain strongly bullish above the EMA50 line at $2680.

Overall the outlook continues to be pretty good.

Ethereum (ETHUSD) continues strong.

Namaste.