ETH/USD daily chart, April 25, 2018

Ethereum markets rally significantly on Tuesday


Ethereum markets reached higher during the trading session on Tuesday, reaching towards the $700 level. This is a large, round, psychologically significant number, and of course will cause a bit of resistance. I think that short-term pullbacks will be buying opportunities, and that the $650 level will be the beginning of significant support. Remember, Ethereum is one of the major players in this market so it’s likely that we will continue to see the entire crypto currency space act like this. The $600 level underneath should act as a “floor” in the market. I think that if we can break above the highs during the session, we will continue to grind towards the $750 level.

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Ethereum markets also rallied against the Euro, showing signs of strength as we reached towards the €580 level. There is a significant amount of support underneath, especially of the €525 level. I think that the floor extends down to the €500 level. I think that short-term pullbacks will offer value going forward, as Ethereum markets continue to show signs of strength. I think that the market will continue to be very bullish, and I think that it is only a matter of time before value hunters come back on pullbacks. I think that the market should continue to be very noisy and difficult, but most certainly positive. I like buying dips as we continue to go towards the €600 level next, and then perhaps even higher than that. If we were to break down below the €500 level, then we could unwind a bit, especially on a move below €480.

ETH/USD Video 25.04.18

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