Ethereum(ETH/USD) Update 23/07/2017: Stair Stepping Upwards After Initial Spike!!!!!

Ethereum has been trading in range of $238.7- $210 for last three days. Today, it is trading at $226 after hitting high of $234, low of $224 and yesterday it close its session at $230.69.

Lets take me your attention on chart below to make note of thing happening in this script.....

In chart above their are following points to take note of:-

• Contraction of Range: Ethereum spiked up and come out of falling channel on 18/07/2017, since then its daily range has been contracting which is why their is wedge like formation has come up on charts. Though, I have pointed out this flag like pattern in chart on chart above but one can clearly notice how Ethereum is still trading in range after breaking above that flag formation. So, this clearly points out that bears has not given up yet and they are still fighting but bulls seems to have upper hand which is why lower point of daily range is going up.
• Multiple Resistances: Prior support at $241 level and 50 Days EMA(red wavy line) is now providing resistance to rising Ethereum price. In my last update i.e. https://steemit.com/ethereum/@jimmyrai28/ethereum-eth-usd-update-21-07-2017-traders-delight-stuck-in-range-now, i have mentioned and recommended to play that resistance to sell and i am still recommending to sell Ethereum near resistance and take profit at 10 Days EMA(Blue Wavy Line). 
• Volumes: Liquidity level is diminishing with each passing day that is why ethereum is contracting in ranges which is another indicator that both buyers and sellers are waiting patiently for breakout or breakdown respectively.  

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Now The Conclusion

In conclusion It is cleared that Ethereum is still trading in range which is stair stepping up slowly. Breakage of said range going to significant for next move up or down. So investors need to wait patiently for breakout but traders can play such ranges on both ways to earn daily profit.

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