ETH/USD daily chart, June 18, 2018

Ethereum Price Forecast – Ethereum falls hard again on Friday


As stated in the paragraph above, the Ethereum markets tried to take out the $500 resistance barrier late on Thursday but gave back those gains on Friday do lose over 6% at the time of this video. The market looks likely to continue to attract sellers every time at rallies, as the $520 level seems to be a rather significant area of clustering and therefore resistance. Market participants are best off shorting rallies as they have been consistent ways to make money. At this point, I anticipate that Ethereum will go looking towards the $460 level again, and then probably the psychologically important $450 level.

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Ethereum also fell against the Euro as one would expect. The markets look ready to go down to the €400 level again, which offered so much support on Thursday. Perhaps we will try to break down below there and go much lower. If we do, I anticipate that the initial target will be €375, followed very quickly by the €350 level. Rallies at this point seem to be a nice selling opportunity, with the €450 level above being a major barrier to get above. If we were to break above there, then I think we would rally towards the €500 level. However, at this point it doesn’t look very likely, at least not in the short term. I believe that Ethereum continues to be sold rather drastically, as crypto currency markets in general have been beaten up. There’s no reason to think this one will be any different.

ETH/USD Video 18.06.18

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