Ethereum Price Wastes No Times Blasting Through Resistance
hive-167922·@scaredycatguide·
0.000 HBDEthereum Price Wastes No Times Blasting Through Resistance
Yesterday we looked at Ethereum price action after it had run up to our profit target, also a resistance level. After just a day of consolidating at that level price leveled up again to close above the 270 area resistance. ## Defying Gravity?  You can see looking at the chart that price has started to go a little bit vertical, which in the long run is not a good thing. Moves that look more like "pumps" very often get followed by "dumps." I'm not saying it will happen here, but it's time to be careful. This isn't where you would normally initial a new position. I would love to see price pullback over the next few days to that prior 270 area. This would not only digest some gains but let the 10 day moving average catch up to price. Plus, a confirmation and test of 270 as support would be very sound price action for the bulls. We shall see, just my opinion and point of view in the end. [](https://steemit.com/@scaredycatguide) Posted via <a href="https://steemleo.com/">Steemleo</a>
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