Ethereum (BITSTAMP: ETHUSD) climbed higher against the dollar about 6% and moved above the Quarterly developing VWAP, targeting the swing highs on the hourly for possible absorption and long liquidation behavior in the early European trading session. Buyers might target a rotation towards the Quarterly DVAH (+1st Standard Deviation) of the VWAP structure.
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The intra-day perspective with an upside slope while the hourly has slight bearish tendencies which may magnetize the lower VWAP close level for a potential retracement. Developing VWAP and DVAL could be supportive and are monitored for bullish patterns.
The price against the dollar might be boosted by the statement of the Co-Founder of a $315 billion asset manager thus says that Ethereum has much higher utility than Bitcoin by its smart contracts.
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