Ethereum markets recover slightly on Thursday

ETH/USD

Ethereum rallied slightly against the US dollar during the trading session on Thursday as the US dollar was hit by a lower than anticipated CPI figures. The $780 level above offers resistance, and I think if we can break above there we will probably test $800 next, followed very quickly by $840. I also recognize that there is a bit of a “floor” at the $700 level, so it’s very possible that we may pull back in the meantime to build up enough momentum to finally go higher. It’s not until we clear the $700 area that I would be concerned about a move lower. In fact, I have a sell rating just below $680.

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Ethereum also rallied against the common currency, reaching towards the €650 level. That’s an area that has a bit of resistance, and if we can break above there we will test the €660 level next, followed by €690. I do think that there’s plenty of support underneath, but we may need to pull back to build up the necessary momentum over here as well. In general, this is a market that has been basing for some time, and the slow, gentle grind higher has been exactly what traders need to see to build up confidence in a rally.

ETH/USD Video 11.05.18

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Ethereum has messy and noisy session on Wednesday

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Ethereum fell against the US dollar initially on Wednesday to reach the $720 level. We bounce from there to reach the $750 level, an area that has been resistance a couple of times recently. If we can break to the upside and above the $775 level, the market probably goes higher and towards the $840 level again. When I look at this chart, I see a significant amount of support at the $700 level below, and I think that we will continue to see buyers coming back into the market in that area to take advantage of that region. I believe that the support goes down to the $680 level, so think of this more as a “zone” than anything else.

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Ethereum fell against the Euro during the open on Wednesday as well, reaching down to the €600 level. This is an area that has been supportive more than once, and the bounce of course would have been right in line with what we have seen over the last couple of days. The question now is whether we can break above the €650 level. If we can break above that level, then I think the market probably goes to the €700 level over the next several sessions. If we break down below the region just below the €600 level, then I think we probably reach down to the €550 level, an area that has caused more than one reaction. Ultimately, I think that we get a lot of noise along the way, so keep your position size relatively small.

ETH/USD Video 10.05.18

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Ethereum falls on Tuesday as crypto currency markets struggle

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Ethereum fell during trading on Tuesday, reaching down towards the $725 level, but is starting to stabilize as I record this. The market has plenty of support underneath near the $700 handle, so I think it’s only a matter of time before the buyers return. We have recently seen lower highs, but previously had been very explosive to the upside. I feel it’s only a matter of time before value hunters come back in, so I’m looking for a small bounce is to add slowly to a longer core position. I am not interested in shorting this market until we break down below the $625 level underneath.

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Ethereum markets fell against the Euro as well, reaching towards the €600 level. There is significant support at the €580 level as well. I think there is only a matter of time before the buyers come in and pick up a bit of value and try to reach to higher levels. I think that there is a lot of noise above though, so it’s not to be very easy to hang onto a trade if you are over leveraged. This of course means that you should come in with small bits and add as we go long. I don’t like the idea of shorting this pair, least not until we break down below the €500 level, something that we are nowhere near doing currently. The market looks likely to try to build a bit of a base and reach towards the €700 level above.

ETH/USD Video 09.05.18

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Ethereum markets fall to start the week

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Ethereum markets fell to open the week, testing the $700 level, an area that has been resistance in the past. This was the top of the ascending triangle that had been so prevalent in the market, and I think that we could have value hunters coming back into the market. However, if we break down below the $650 level, then perhaps the uptrend will get crushed. If we break down below that level, I anticipate that we will go down to the $600 level underneath, which is massive support in its own right. Otherwise, if we bounce from here I anticipate that we are going to go to the $800 level.

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The Ethereum markets fell significantly during the trading session on Monday against the Euro as well, reaching towards the previous resistance level of the ascending triangle on the hourly chart, the €580 handle. I think that the market should continue to find buyers in this general vicinity, but if we were to break down below the €540 level, I think we will drop to the €500 level. A breakdown below that level has this market unwinding rather drastically. As I record this, it looks as if we will probably have buyers command, and if we can break above the €620 level, I think we then go to the €700 level. Ultimately, I think we are at a major decision level for this market going into the future.

ETH/USD Video 08.05.18

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Ethereum shows signs of strength during the week after initially drifting lower

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Ethereum markets initially fell during the week, but then found enough support near the €625 level to turn things around and reach towards the €800 level. There is a cluster of noise just above, but I think if we can break above the €900 level, we will inevitably takeover the €1000 level. Short-term pullbacks could offer value for people to get involved, and I think that we will eventually see this market go higher. However, this is a week to week situation, and of course we will pay attention to the next candle. I anticipate the pullbacks are value that will be picked up though.

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Ethereum also initially fell against the Euro during the week but found enough support near the €500 level to rally significantly and reached towards the €700 level. This is an area that is very resistive just above, but I think if we can break above the €800 level, the market could go to the €1000 level. I think short-term pullbacks will be buying opportunities down to the €500 level, and I believe that until we break down below the €500 level, you should probably agree with the buyers. A break above €800 opens the door to at least €1000, but I think at that point we would probably go looking towards fresh, new highs again. Ethereum has been one of the stronger crypto currencies in the world lately, and I think it is going to lead the way for other markets.

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ETH/USD Video 07.05.18

Ethereum markets initially rally but struggle on Friday

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Ethereum rallied over the last several sessions during the week, but Friday was a bit different as we struggled at the $800 level to find sellers. By doing so, we reached down towards the $760 level, an area that could be support. However, even if we break down from here I think there’s even more support at $700 level, so gives us an opportunity to pick up value on these pullbacks. The $700 level being broken to the downside would cause the entire situation to become a bit cloudier, but I think that ultimately it looks as if Ethereum will lead the way for other crypto currency markets.

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Ethereum fell against the Euro during the session on Friday after initially tried to rally, with the €680 level being resistive enough to turn this market around. I think that the €600 level is a significant amount of support, so I would look for some type of bounce from that area to pick up value in this market. That will be exacerbated by the EUR/USD pair falling, as the EUR continues to struggle overall. If it sells off in the Forex world, it will more than likely sell off in the crypto currency world as well. Ethereum has been a leader over the last several sessions, and that means that as the EUR falls, that should push this market up much quicker than many of the other crypto currency markets that we follow here at FX Empire, so pay attention to both currencies.

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ETH/USD Video 07.05.18

Ethereum breaks out for Thursday session

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Ethereum markets broke out during the session on Thursday, clearing the $700 level, and more importantly the top of an ascending triangle. Now that we have done that, we should move towards the $800 level based upon the measurement of the triangle. I think that the upward momentum is rather significant, so buying dips should continue to be a good way to play this market. I don’t have any interest in shorting this market, as we have seen so much in the way of support previously, and of course the ascending triangle will have a boatload of orders in that pattern just waiting to list pricing.

ETH/EUR

Ethereum also broke out against the Euro, and now looks likely to go towards the €700 level above, perhaps €680. This is the same pattern as we see against the US dollar, and as per usual the market is moving in concert. With the EUR being so soft lately, it makes sense that this pair may outperform the ETH/USD pair. Certainly, selling isn’t something that you should be doing, and I think that there is a massive amount of support near the €580 level, if we could even pull back to that area. I anticipate that the €600 level is also supportive, based upon the clustering that we have seen.

It’s possible that Ethereum is going to lead the way for Bitcoin to break out finally. Generally, one of these markets will lift the other, so we may be seeing the beginning of a major breakout in crypto currencies again.

ETH/USD Video 04.05.18

Ethereum markets rally during Wednesday session

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Ethereum markets rallied during the trading session on Wednesday, reaching towards the $700 level above. It looks as if that level will offer a certain amount of resistance, as seen recently, but every time we pull back I think we are trying to build up enough momentum to finally break through it. This is a particular strong signal, considering that the US dollar has been strong in the Forex market simultaneously. If anything, this market should be falling based upon greenback strength. A break above the recent highs at the $710 level should send this market towards the $725 level next, and then eventually the $750 level. I believe that there is more than enough support extending down the $600 level to make the dips in this market attractive for buyers.

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Ethereum acted very similarly against the Euro, reaching towards the €600 level. If we can break above that level, it’s likely that we would go another €100 higher rather quickly. In the short term, I believe the dips are momentum building exercises, and that we have more than enough support extending down to the €500 level to keep this market afloat. In fact, it looks as if we are at the precipice of forming a longer-term “cup with handle” pattern, which is a very bullish pattern indeed. It will be interesting to see how things play out, but if we were to break down below the €500 level, that could have this market unwinding. Currently though, it looks as if the buyers will continue to be very aggressive.

ETH/USD Video 03.05.18

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Ethereum markets struggle on Tuesday

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Ethereum trying to reach towards the $675 level, but that’s an area that has far too much in the way of resistance to continue going higher. The market has broken down rather significantly, and I think we will probably go down to the $630 level again. I think we will probably not only reach the level but break down towards the $600 level which of course has much more importance attached to it. If we were to rally, I think it would be very difficult to break above the $700 level, which has offered such stingy of resistance. After several days of a slow upward grind, we have changed the attitude of this market rally significantly, and that should not be ignored.

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We also saw Ethereum fall against the Euro, breaking down below the €540 level during the American session. There is significant support below the €500 level, I think that might be where we are trying to get to. I would anticipate a lot of support at the very and perhaps a bounce to, so I think that the buyers will get involved. If we were to break down below the €500 level, the market probably drops down to €480, which is the bottom of that support “zone.” A breakdown below the bottom of that should send this market much lower, perhaps down to the €400 level next. If we do bounce from the €500 level, I anticipate that the €580 level will continue to be resistive, and we will bounce around in further consolidation.

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ETH/USD Video 02.05.18

Ethereum quiet during last session of April

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Ethereum markets went sideways during most of the session on Monday, trading between $670 on the bottom, and $700 on the top. If we can break above the $710 level, that would be a sign that the buyers have taken over again, and we could go higher from there. I do believe the dips will probably be bought, but we are currently looking for some type of momentum. $40 level underneath should be support, and as we continue to grind higher, I think that the market will eventually get the necessary momentum to break out. The question is when it happens?

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Looking at Ethereum against the Euro, you can see that we are clearly pressing up against the €580 level, an area that has been resistance in the past. A break above that level could confirm an ascending triangle, or at the very least the getting of a longer-term uptrend channel, both of which are very bullish signs. The EUR/USD pair has been breaking down a bit during the day, so it’s no surprise that Ethereum would do well against the Euro, as it struggles in the Forex markets. If we were to break below the €550 level, that would be a very negative sign, perhaps unwinding the pair down to the €500 level next. Longer-term though, I believe that value hunters continue to come in and pick up dips as they offer a nice intrigue, and that we will break above the €600 level relatively soon, perhaps in the next couple of days.

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ETH/USD Video 01.05.18

Ethereum rallies during the week

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The Ethereum market pulled back slightly against the US dollar at the open of the week, breaking below the $600 level only to turn around and rally again towards the $700 level. I think that the market will eventually go higher, perhaps reaching towards the $800 level after that. We have bounced rather significantly, and I think that the market is starting to attract some value hunting. The $800 level above should be resistance though, so if we were to break above there the market probably goes to the $1000 level. I think that we need to see a bit of stability to continue to find buyers, as the market continues to be very noisy.

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Ethereum rallied significantly during the week, breaking above the €500 level, reaching towards the €600 level. I think if we can finally break above there, we should then go to the €800 level. That’s an area that has offered resistance in the past, so I think it will in the future. I look at short-term pullbacks as a potential buying opportunity, unless of course we were to break down below the €500 level, and then perhaps we could go to the €400 level. I think that the market continues to struggle going higher, as there has been a lot of noise above. I think that longer-term traders might be interested in buying slowly, and holding onto a position, but that’s more of an investment than anything else. You need to be patient to ride out this move though, so keep that in mind.

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ETH/USD Video 30.04.18

Ethereum rallies during the Friday session

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Ethereum markets initially pulled back a bit during the trading session on Friday but found enough buyers to turn things around and start rally again. The market looks likely to go looking towards the $700 level next, and then perhaps even the $800 level. I think that short-term pullbacks are reason enough to buy as we have seen such a nice move higher, and they should represent a bit of value. The $600 level underneath would be a floor, and I think that longer-term it should continue to be a market that is supported. Every time we rally going forward, I think that the buyers will add to core positions.

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Ethereum markets went sideways initially against the Euro on Friday, then reach towards the €550 level after that. I think that the market should continue to go to the €580 level, and then eventually the psychologically important €600 level. I think that the market will find more than enough support at the €500 level underneath to continue the uptrend. Ultimately, every time we pull back, it’s a buying opportunity for those who are cautious. Adding to your position is probably the best way to go, as it does look like we have plenty of buying pressure, so ultimately that should continue to push. I think that the market will eventually try to go to the €800 level above, based upon longer-term charts. It will take a while to get there, but I think that area could be very resistive so keep that in mind. I’m not interested in shorting until we break down below the €500 level.

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ETH/USD Video 30.04.18

Ethereum go sideways during the trading session on Thursday

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Ethereum continues to hang around the $625 level, an area that has been important over the last couple of weeks. I think that if we break above the $650 level, then we should go higher towards the $700 level. I think that the $600 level underneath is support, so if we were to break down below there it’s likely that the market should then go down to the $500 level. Longer-term, I believe that the market will continue to find buyers, based upon value. However, right now momentum is missing.

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Ethereum markets went sideways initially during the session against the Euro as well, using the €500 level as support. I think if we can break above the €540 level, then the market is free to go to the €580 level. Alternately, I think that the support should go down to €480, so a breakdown below that level would be rather negative. I think that we will eventually see the buyers come back, but we are trying to catch our breath after quite a bit of volatility. As a record this, we are up 2% for the day, which in the crypto currency markets doesn’t seem to be much. However, I think that the market is likely to continue to go to the €600 level over the longer term, and perhaps even higher than that as we have seen so much in the way of momentum to the upside being build up.

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ETH/USD Video 27.04.18

Ethereum falls as crypto currency loses luster on Wednesday

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Ethereum markets fell during the trading session on Wednesday, reaching down towards the $600 level where we started to see buyers jump back into the market. I think that the market probably comes back though, and that this area should extend support down to at least the $575 level. If we were to break down below that level, then the market probably goes down to the $500 level. At that level, it is a large, round, psychologically significant number, and that should attract a lot of attention. I don’t have any interest in shorting, not after we have seen the explosive moved to the upside. I think buyers to come in and trying to drive this market towards $750 next, but it may take some work.

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Ethereum also fell against the Euro, reaching down to the €500 level before finding buyers. It looks as if we are trying to stabilize in this area, and I suspect that there is plenty of support down to the €480 level as well. I anticipate that the market should go looking towards the €600 level over the longer term, but these pullbacks offer value the people are more than likely waiting on. The market continues to see upward pressure in general though, so I look at this as a value opportunity. If we break down below the €480 level, the market probably goes down to the €400 level next. That being said, I believe that we are much more likely to see buyers jump into this market than anything else.

ETH/USD Video 26.04.18

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Ethereum markets rally significantly on Tuesday

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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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Ethereum slightly positive on Monday

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Ethereum rallied against the US dollar during most of the session on Monday before pulling back slightly. However, I think that we will eventually find buyers back into this market, especially near the $620 level, an area that has been resistance in the past. At the first sign of a bounce I am more than willing to start buying this market as I believe we will continue to find value hunters coming in. If we did breakdown below the $620 level, then we would probably test the $600 level after that. I believe that the support extends down to at least $580, so at this point I don’t have any interest in shorting. I think that the longer-term target to the upside is closer to the $700 handle.

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Ethereum also rallied against the Euro, reaching as high as €525 during the trading session, only to pull back slightly. It looks as if there is plenty of pressure underneath to keep this market going, and I think that the €500 level will of course be an area that should attract a lot of attention. I believe it extends down to the €480 level, so I’m waiting to see whether we get a bounce or supportive candle to start buying. This market should continue to be one that shows plenty of value occasionally, as we have seen the crypto currency markets make a significant come back recently. I believe that the ETH/EUR pair will go looking towards the €500 level. Beyond that, we are probably looking towards the €600 level.

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ETH/USD Video 24.04.18

Ethereum markets rally during the week

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The Ethereum markets initially dipped during the week, but then use the $500 level as support to go higher. It looks as if we are trying to break above the $600 level, and then perhaps reaching towards the $700 level. I think that it is only a matter of time before the markets go towards $800 again, but the markets have been shaken rather drastically, so it’s not a surprise that it is going to be difficult to jump into this market with both feet. I think that short-term pullbacks are still going to offer value, and if we can stay above the $400 level, eventually the buyers could gain a foothold in this market. It looks as if Ethereum is trying to rise from the dead.

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Ethereum markets initially fell during the week, reaching towards the €400 level before finding enough support to turn things around. We rallied to significantly to reach towards the €500 level, and it looks as if we may break above there. Once we do, I think the market is free to go to the €700 level rather quickly, and it looks as if we are forming a bit of a “floor” in this market just as we are against the US dollar. Ultimately, this is a market that I think has wiped out most of the “dumb money”, which allows for markets to climb again as the mania is all but dead. If we were to break down below the €300 level, that would be catastrophic, but it looks as if we have avoided that.

ETH/USD Video 23.04.18

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Ethereum markets rally again during the Friday session

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Ethereum rallied against the US dollar after initially dipping on Friday, reaching down towards the $560 level. We then reached towards the $600 level, which of course is a large, round, psychologically significant number. If we can break above that level, the market should continue to go much higher. I think that the $550 level will be a bit of a floor going forward, as the market has recently made a bit of a consolidation move, only to break out to the upside. I think that the upward momentum should continue, and I think that Ethereum is going to be strong over the longer term.

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Ethereum markets initially pulled back during the trading session on Friday against the Euro, testing the €450 level for support. I believe that the market should continue to go towards the €500 level, as we have broken out over here as well. I believe the crypto currencies in general should continue to strengthen, and that of course should extend to this market as well. I believe that with the EUR/USD pair drifting a bit lower, that will probably put more upward pressure in this market as the value of the Euro itself is falling a bit. Ultimately, I think that the market should continue to go towards the €500 level, and then eventually the €600 level. I believe there is a “floor” in this market closer to the €400 level, so it’s not until we break down below there that I would be concerned about the uptrend.

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ETH/USD Video 23.04.18

Ethereum markets rally during steady the Thursday session

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Ethereum markets rallied against the US dollar during the trading session on Thursday, breaking towards the $550 level. I think there is more than enough support underneath to keep the market go higher though, and I believe that the $500 level underneath is a massive “floor” in the market. I think that short-term pullbacks continue to offer value the people will take advantage of, as crypto currencies in general have shown signs of life. I think that the ETH/USD pair will eventually continue to find buyers on short-term pullbacks, as they offer value. If we break down below the $500 level though, that could send this market much lower. I recognize that crypto currency seemed to be forming some type of base for a larger move, and that should translate to this market.

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The Ethereum markets rallied a bit during the trading session on Thursday, breaking above the €430 level, perhaps reaching towards the €450 level after that. The $450 level of course is a large, round, psychologically significant number, and I think that short-term pullback should be buying opportunities. I believe that the €400 level is a support barrier, and I think that a pullback towards that area should be a buying opportunity. If we can break above the €450 level, the market will probably go to the €475 level and then possibly the €500 level after that. Ethereum will obviously follow the overall attitude of Bitcoin, so keep that in mind. The alternate scenario of course is that we break down below the $400 level, which would be very negative and could send the market much lower.

ETH/USD Video 20.04.18

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Ethereum rallies slightly during the Wednesday session

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Ethereum markets rallied slightly during the trading session on Wednesday, reaching towards the $520 level. The $500 level underneath has been supportive, as we continue to go back and forth in a volatile and sideways market. If we can break above the $540 level, the market should then go to the $550 level after that, perhaps to the $600 level. If we were to break down below the $480 level, then I think that the market could breakdown from there, looking towards the $425 handle. I think we are trying to form some type of base though, and this base should send this market higher, but obviously there’s a lot of noise.

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Ethereum also did the same thing against the Euro during the Wednesday trading, with the €400 level underneath offering support. The €430 level above is resistance, and if we can break above there I think the market goes looking towards the €450 level beyond that. I believe that the market has plenty of support underneath though, so if we were to break down below the €390 level, then I think the market probably breaks down to the €350 level. In general, I think that this market should continue to find a bit of a basing pattern, so it’s likely that we could find a bit of value, but I also believe that you should be cautious about putting too much money to work, at least until we break out. In the short term though, it does look as if the buyers may be ready to make a move.

ETH/USD Video 19.04.18

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