​Ether remains in recovery mode

​​​Ether remains in recovery mode

​​Ether bullish case:

​​Ether has broken through its June downtrend line at $2,433.55 but is being capped by the 55-day simple moving average (SMA) at $2,456.63.

​Were an advance above the next relative high at $2,568.97, the 20 June high, to be seen and the 200-day SMA at $2,571.47 to be overcome, the May highs at $2,737.17-to-$2,788.12 would likely be targeted ahead of Ether’s early June 5-month high at $2,879.45.

​​Were this level to be exceeded, the 13 January low at $2,925.00 and the 27 January trough at $3,022.00 would become potential technical upside targets.

​​Ether bearish case:

​​In case of a minor slip, the 6 June low at $2,387.06 may offer minor support ahead of the 18 May low at $2,328.10.

​A fall through this level would likely re-engage the April-to-June uptrend line at $2,144.55 and Sunday’s low at $2,115.55.

​​Were this support zone to give way, the March peak at $2,103.22 and 19 March high at $2,069.11 would likely be reached.​​

Ether daily candlestick chart