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Ethereum Analysis January 8, 2018

ETH/USD

Ethereum rallied again during the trading session on Friday, finally reaching the $1000 level. Ultimately, I think we can break above this area, but it would not surprise me at all to see short-term pullbacks to build up enough momentum to do so. I look at the $900 level as the likely “floor” in the market. Once we break above the $1000 level, the $1100 level will be targeted.

 

ETH/BTC

Bitcoin rallied significantly during the day against the US dollar, so this of course had a bit of an effect over here as well. However, it appears that the 0.06 level is offering support, so I believe it’s only a matter of time before the buyers return. I like buying dips, and believe that the uptrend is intact as long as we can stay above the 0.05 handle.

Thank you for watching, I’ll be back tomorrow.

The post Ethereum Analysis January 8, 2018 appeared first on NewsBTC.

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