• Ether traded 1927.69-1867.01 Thursday, was down -2.11% into Europe's close

• Drops aided by USD buying, firm US yields & gold, equity drops

• Despite Ether's sharp fall it still trades within Wednesday's daily trading range

• That's a signal that Ether is entering a consolidation phase of its recent gains

• The consolidation will give daily RSI a chance to unwind its near overbought condition

• Rising monthly RSI, Ether's hold above the 10- & 50-DMAs are bullish signals

• June's monthly high is resistance, a break may trigger stop buying, short squeeze

• Ether bulls may then target 2420.00-2475.00; Feb. March, April, May highs sit there
eth


(Christopher Romano is a Reuters market analyst. The views expressed are his own)