This is the tightest sideways drawn out channel I can remember in ETH.
Money in ETH the last couple days is stagnant money and while we are not seeing much downside, it is wasted profit opportunity in other names to just let funds sit still.
We will watch for a bull break but ETH has been out of favor with the market for weeks aside from the short term bull spike with the BTC fork block reaction.
Devcon3 is next week and we may see a bit of "buy the rumor" help for the bulls as some hype builds into the event.
Worth keeping an eye on but more trading opportunity elsewhere at this point. $300 and $305 continues to be a key level that keeps coming into play.
Money in ETH the last couple days is stagnant money and while we are not seeing much downside, it is wasted profit opportunity in other names to just let funds sit still.
We will watch for a bull break but ETH has been out of favor with the market for weeks aside from the short term bull spike with the BTC fork block reaction.
Devcon3 is next week and we may see a bit of "buy the rumor" help for the bulls as some hype builds into the event.
Worth keeping an eye on but more trading opportunity elsewhere at this point. $300 and $305 continues to be a key level that keeps coming into play.
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