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Ethereum (ETHUSD) Gearing Up for a Breakout?

Ethereum $ETHUSD has been trading around 300 for some time now.


ETHUSD Daily Chart

(click to enlarge)

Congestion:
- After the rally earlier in the year, ETH/USD has been consolidating in a congestion, triangle pattern.
- Price action is stuck around 300, and looks very uncertain when it tries to go either way.
- I think there is bullish bias, and a breakout is pending, which would open up the 450 level for ETH/USD.
- We should also monitor 250 for support. A break below 250 would be cause for re-examination.