ETH - Retest in Progress + Breakout TargetsEthereum / TetherUSBINANCE:ETHUSDTVIAQUANTHere is an update to my last post: The Retest After another rejection at $2,150, ETH has begun dropping back toward the black trendline which is the level I labeled "If Rejection Watch Here" in my previous post. ETH now needs to flip that old resistance into new support to create a counter-trend rally. Price has already slightly front-run this level with a railroad track pattern on the 6H chart, but a successful retest could put ETH anywhere between $2,000 and $2,050, depending on how long it takes to reach the trendline. That would most likely coincide with BTC retesting the $70,000 level. The Breakout Upon a successful retest, I would be looking for ETH to finally build enough momentum to break above the key $2,150 level. A confirmed breakout above this resistance would open the door for ETH to extend toward the upper targets outlined below. Target 1 – ~$2,400 (1.618) The first target is the 1.618 Fibonacci extension level around $2,400, derived from the micro trend price has been trading within over the past month. Main Target – $2,700 to $2,800 (0.786 / 0.618 x2 Confluence) The next level of interest is between $2,700 and $2,800. Adding to this confluence, the measured move breakout target sits just below this range at $2,680 giving a strong cluster of levels for ETH's next lower high to form within. Target 3 – $3,000 to $3,200 (0.382 / 0.5 / 0.618 Confluence) This target only comes into play if BTC is able to reach its main target range of $82,200–$85,400. You can view that idea here. If that scenario unfolds, ETH's next lower high could form between $3,000 and $3,200. As a side note: if ETH/BTC gains more momentum than expected, the next lower high could potentially be established as high as $3,400, which would create a mid-term triple top for ETH.