Ethereum Overachieves

Last week, Ethereum not only did not lag behind the market, but often outperformed it, so the overall growing trend allowed it to achieve the goal of $615 without much difficulty, where an attempt was made to bring the price down. But the buyers did not leave the asset to be torn apart by the bears, and followed up by reaching the mark of $670.

Ethereum practically pushed up against the boundary of the ascending channel, which is already steep enough to just break upward through it. Therefore, we expect lateral trading with a possible fallback to $630.

The next goal for short-term investors is suggested by the value of fair price since the beginning of December and the 0.618 Fibonacci expansion - it's $ 690 - $700.

After reaching the mark, we can see a trend change, not necessarily to a downtrend, but perhaps to a more gently sloped one. The medium-term goal of $800 already looms on the horizon, but it is too early to predict how it will be reached.

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