Ethereum Analysis January 8, 2018
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.
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.