Ethereum Inches Higher

Ethereum has found support, bouncing off our level at $1547. We saw mounting support from green triangles on the KRI, but the $1600's are proving tough to break through. Our level at $1653 seems to be a barrier for now. Recall that this is the beginning of a cluster of levels which extend through the mid $1700's. We will need some strong buying momentum to break through these, but if some comes through, we could retest the $1800's. Otherwise, expect continued support at $1547, with $1424 a likely floor price.