Ethereum has been my jam since last May when I found out about it.
This bounce is looking stronger than I had initially thought. I think overall it's still too early to tell if we're reversing the trend from earlier in the year and seeing a new ATH (we all hope), but there's a STRONG case for ETH to see prices as high as $880 by the first week of next month.
The 50% fibonacci retracement says so, first of all. We see these levels on the extreme side play into effect a lot more than they do in traditional markets. For example, it's common to see pullbacks to the 78% or 100% fib levels.
Additionally, we're seeing bounces off support the last two pullbacks from the 55 EMA. This is a STRONG signal that we're thinking these prices are so good at this level. When the longer EMA's (or SMA's for that matter) show their proof of support and/or resistance, that's a good sign that they are credible.
The huge bear bar yesterday worried me, but not if we keep seeing overall increasing bull volume like we've been seeing.
Lastly (for now), we're seeing a strong upside for the third leg of the Elliot's wave which pushes us up against the $880 level which was huge resistance on the path downward.