Ethereum surged to record high above 3000 handle as recent up trend continues with strong momentum. Fresh buying came last week after European Investment Bank announced to issue its first even digital bond last week, on the ethereum blockchain network.
Bitcoin also follows higher and breaches 58000 handle today. As the first leg of the corrective pattern from 64828 has completed at 47112 already, Further rise is now in favor back to retest this high. However, we’d not expecting a firm break there. We’re still viewing price actions from 64828 as a medium term correction, and expect at least another falling leg before it completes.
Break of 52377 support will bring another fall to 47112 support, and possibly further to 38.2% retracement of 4000 to 64828 at 41591, which is close to the top of prior range of 20283/41964.
