Ethereum Analysis January 24, 2018
Ethereum markets drifted lower during the day again on Tuesday, reaching towards the $900 level. There is an uptrend line underneath that could offer support, but at this market breaks down below the $800 level, look out below. At that point, I would expect to see this market reach towards the $600 level. Alternately, if we can break above the $1000 level with strong volume, we could see a recovery in price.
Ethereum markets went sideways during the trading session against Bitcoin again on Tuesday, as both crypto currencies are struggling. We are currently consolidating between 0.08 on the bottom, and 0.10 on the top. Because of this, I am staying out of this market and waiting for some type of impulsive move to get involved.
Thanks for watching, I’ll be back tomorrow.