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We’ve been carving out a pretty decent floor around that 1.27 area, and the recovery since late April is actually holding up better than I expected. We just tagged 1.42 and the bulls are trying to flip this previous resistance into support.
Volume is okay, nothing crazy yet, but the order book is stacked heavy on the bid side at 73%. That’s a lot of pressure waiting to catch a dip.
If we can consolidate here and keep the higher lows going, I’m looking at that 1.51 peak next. If we lose 1.38 though, it’s probably back to the drawing board.
Holding tight for now. Let’s see if the bulls have the legs to push through.
#AaveSuesToUnfreeze73MInETH