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Bullish bias for Ethereum (ETHUSD) using chart patterns

The 1hr tf chart of Ethereum ( ETHUSD) as shown here captures the market action for Ethereum( ETHUSD) ever since price bottomed at ~ $511.64 on May 28, 2018.

The pink line is derived as a vertical projection of the top line (red) of the bullish channel. Further break to the upside past target 2 as shown on the chart could see Ethereum ( ETHUSD) target the upper region of the pink line at ~$736.80.

Technical analysis of Ethereum (ETHUSD) on a 1hr tf

Target 2 is based on price returning to the upper region of the current bullish channel and target 1 which is the most conservative is based on a vertical projection of the bear channel shown in blue.

RSI ( relative strength index ) as shown here has a positive rising slope and therefore implies further upside Momentum for Ethereum( ETHUSD)

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