15 Jan Ethereum Analysis January 16, 2018
Ethereum markets rallied significantly over the last couple of weeks, but Monday was rather quiet. It looks as if the $1300 level is offering a bit of support, just as the uptrend line just below pricing is. I think that it’s only a matter of time before we reach towards the $1400 level. If we break down below the uptrend line, the market sends this market down to the $1100 level.
Ethereum has rolled over against Bitcoin during the session on Monday, but quite frankly I think there’s plenty of support underneath. The 0.08 level underneath should be a bit of a “floor” in the market, and therefore any pullback to that area should offer value the traders are willing to take advantage of. If we break down below the 0.08 level, the market probably goes much lower from there.
Thanks for watching, I’ll be back tomorrow.