ETH – Retrace to value zone

After breaking out successfully from the value zone, Ethereum is retracing to the value zone. As shown in the chart, there are three phases of price movement. First is the breakout, then the pullback due to filling sell orders, and eventually the bull rally. Ethereum is in the second phase, the pullback. The price pulled back due to the sell orders at $4,800. Ethereum could now attract bids from the upper area of value and head towards the psychological resistance of $5,000.