ETH.USDT (Y20.P4.E7).Looking to go long

Hi,

ETH is recovering and is about to break out.
It doesn't have the same bullish upward pressure as BTC but this could also give a signal for the ALTs to come into play, while BTC struggles with the 12850 resistance level as its the 0.618 macro fib level.
Refer to my previous post, link provided.

Cheers,
S.SAri

Note, this is a strong resistance, so if it breaks out from this, its a bullish sign.

Weekly chart, observe key levels

Note, BTC dominance also hits a resistance zone, so some of the alts are given an opportunity.

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The other perspective.
With the Paypal announcement, ETH along with BTC and LTC are doing well, and likely for the short term remain bullish. LTC was the surprise.

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Using Bitstamp, I have $470 as the main target. Note the trend lines and the fib. extension on the macro.

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