ETH/USD daily chart, June 07, 2018

Ethereum markets flat during Wednesday session


The Ethereum markets when sideways during the trading session on Wednesday, dancing around the $600 level. The market continues to be very noisy, and I think that it’s going to be difficult to put money to work right now, as the market seems to be very unlikely to go in one direction or another. If we break down below the $580 level, the market will more than likely go looking towards the $525 level underneath. Otherwise, if we break above the $625 level, the market is likely to go reaching towards the $700 level. Until we can get some type of break in one direction or another, it’s good to be difficult to take any move seriously.

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Ethereum markets have gone sideways against the Euro during the day on Wednesday, hanging around the €520 level. The €500 level underneath is support and should continue to be so. However, if we were to break down below the €500 level, the market could unwind towards the €475 level. If we break out to the upside and clear the €540 level, the market should go to the €600 level. I think that the market should continue to go sideways in general, and I think that it’s only a matter time before this volatility picks up, and we can start trading again. Ultimately, this is a market that I think will continue to be short-term trading only and perhaps sideways action more than anything else. If you have the ability to trade in short term time frames, then perhaps you can get something going.

ETH/USD Video 07.06.18

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