ETH/USD Update 14/10/2021

ETH/USD Update 14/10/2021

ETH/USD Update 14/10/2021

Ethereum / U.S. dollar BITSTAMP:ETHUSD

Update from last idea, previously we had just broken below my key level of 3537, where we seen several tests of that level before a breakout which made me turn bearish short term. I expected greater targets but as you can see my support line at 3429 has been an excellent entry into a long position the entire time ETH was falling.

seeing the pump today has broken the trend, short term it looks amazing long term we still have a long way to go in my opinion. we are trying to break back into this rising wedge but are failing to keep a break and retest into the formation. I have a VERY important level at 3837, that was where my tp was set on my long, we came within $ 10 of my target but have seen 3 ticks to the upside showing signs of a short term reversal playing out.

I am waiting for a break of 3837 with a retest before I expect a big move to the upside a retrace to the previous swing high around the 3610 price level would be a healthy short term retrace for more bullish upside, it looks like we need consolidation to build up momentum to get through the next resistance.

Key Price levels:
Resistance: 3837
Prev . Swing High: 3610
Key Support to Hold: 3426