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Ethereum bullish price channel update: 4hr tf

My previous post on Ethereum can be found here:

https://coinanalyst.investments/2018/05/03/ethereum-ethusd-bullish-price-channel-update-4hr-tf/

Boundary for the channel in Ethereum (ETHUSD) was redrawn after prices broke below ~$670.18 on April 30, 2018. Previous target area between ~ $818.71 and $839.68 was hit on May 5 with price returning to successfully test the bottom of the channel.

Technical analysis of Ethereum on the 4 hour tf

A break below the channel is expected to find support at Support A, which has been adjusted and is now placed between ~$685.23 and $646.08. Any break below support Area A would likely test support B ($623.62 and $597.60). Lines for the channel have been further extrapolated and this indicates that the new target for Ethereum to maintain its current bullish trend is ~$858.46 and $885.75.

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