Bollinger Bands may have some value for the short term ETH read.

The recent rally in ETHUSD was so vertical that it took ETH above its Bollinger Band. When a market takes out the top Bollinger band, it can imply a one or two-day consolidation may be in order.

If ETH consolidates for a day or two, we believe it is building up steam to take out the top of a high volume zone near 240. If that happens, ETH can move to the next high volume zone above 300.

Bottom Line: Any sideways action in ETH is a pause that refreshes. ETHUSD is going to heat up again. Stay long and strong.

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