With the move above 190 and then 200 our bullish Ethereum thesis is in tact and rocking.

In research, you get paid for imagination. We believe that ETHUSD is now in what Elliot practitioners call a three wave up. That means ETHUSD could be starting a really big up trend.

If that is true, we feel ETH can start a move to 480. In the short term, if ETH takes out 202, 220 could be next.

Bottom Line: ETH is going up. Go with it until proven otherwise.

DISCLOSURE: Token Metrics is a regular publication of information, analysis and commentary and does not provide individually tailored investment advice.  The Token Metrics team has invested and advised in many blockchain companies. A complete list of the team disclosures, advisory roles and current holdings can be viewed here: https://blog.tokenmetrics.com/disclosures/.