11 Jan Ethereum Analysis January 12, 2018
Ethereum has rolled over slightly against the US dollar during the trading session on Thursday, breaking below the $1200 level again. However, I think that the market has plenty of support underneath, and it’s only a matter of time before the buyers get involved. I think there is a hard “floor” at the $1000 level as well. From bounces to take advantage of an oversold condition on the stochastic oscillator just below on the chart.
Ethereum has pulled back against Bitcoin, which of course is no surprise as the market had approached a vital level in the form of the 0.10 handle. There is plenty of support below, and at this point I’m waiting for some type of bounce to start getting involved again. I suspect we may need to see the market drift a little bit lower over the next 24 hours to provide that value.
Thanks for watching, I’ll be back on Monday.