Crytocurrencies have been rather sluggish since the near term rebound lost momentum in late January. Yet, for now, there is no clear sign of a bearish reversal.
For Ethereum, further rally is expected as long as 1533 support holds. Current rise from 1071 is seen as the third leg of the pattern from 878.5. It might eventually turn out too be a sideway consolidation pattern. But stronger raise to 2028.9 resistance could be seen, or even further to 100% projection of 878.5 to 2028.9 from 1071.0 at 2221.4. But of course, break of 1533.0 will indicate short term topping. Further break of 55 day EMA would pave the way back to 1071 or even to 878.5.
As for Bitcoin, further rally is expected as long as 22314 resistance support holds. Rise from 15452 would target 25198. Strong resistance might be seen there to cap upside, at least on first attempt. On the downside, break of 22314 support will suggest short term topping and bring pull back to 55 day EMA.
