ETH – Watch this Key Support

This may be the last chance for the bulls to keep the positive momentum in Ethereum as ETH currently stands above a very important support level. As the daily chart shows, Ethereum has been respecting this support level since May, last year. Besides a few fakeouts, Ethereum never broke below the higher lows trend. If this support level is taken by bears, Ethereum could bleed to $2200, fib 0.5 support. Ethereum has near term resistance at a $4000 psychological level.