ETH – Moving into Positive Range

In the second week of December, Ethereum was trapped in a ranging zone between $4070, fib 0.786, and $3923, fib 0.5.  After yesterday’s uprise in price Ethereum has risen to a level back into that zone. It’s in bull’s favor if ETH ranges here and collects some liquidity before a final ascend upwards. The upper line of the highlighted area at $4070 is the local resistance and the lower at $3923 is the local support here.