Ethereum hits $130, what now?

The target of $120 was more than fulfilled with this nice move over the last 2 days. 

We are currently trading in the weekend, the volumes are expected to be thin and insignificant. Monday and Tuesday trading are important days to monitor for signs of continued momentum. Ideally, i would like to see lesser price range movement and falling volume. That would be great for some digestion of the current prices and for the market players to accept this level as the "new norm". 

With the Ethereal conference ongoing there could be significant news coming out still, which will be the spark for more fireworks to the upside. Looking at the past performance of Ethereum, it has never corrected on the immediate next day of a fresh breakout. The strong close on friday should have spillover momentum into the next half of the week.

The alternative scenario is a quick selling bar that sends the price back to 100 but closes quickly back up again. This is equally desirable as it will allow us to see where the market support is. 

In conclusion, strong close and performance, a good chance of continuation for the upside and no reason to panic even if a retracement comes. Ride the tide!