Ethereum Analysis December 11, 2017

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ETH/USD

Ethereum rallied rather significantly during the trading session on Friday, reaching as high as $450, but ran into significant resistance. As we consolidate between the $425 on the bottom, and $450 on the top of the short-term range, I suspect we are going to continue to see choppy conditions. I do however feel that Ethereum will continue to strengthen longer term. Use these dips as potential buying opportunities.

ETH/BTC

With the world focusing on the volatility and Bitcoin, it’s not a surprise that this market rallied significantly during the trading session, but then rolled over again. The downtrend is very much intact, and at this point I think we are going to revisit the lows. The 0.03 level has in fact held as massive resistance as we thought it could yesterday.

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