Ethereum Analysis January 5, 2018

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ETH/USD

Ethereum continues to grind higher, as it looks likely to reach towards the $1000 level over the next several days. Because of this, I believe that the markets will continue to find buyers on dips, as the large, round, psychologically significant number is far too tempting of a target. I believe that it is not until we break down below the $800 level that you should worry about the uptrend.

ETH/BTC

Ethereum rallied against Bitcoin as well, and it looks as if the markets are starting to favor Ethereum overall. The market looks likely to go looking towards the 0.07 handle above, and I think dips continue to be supported at the 0.06 level below.

Thanks for watching, I’ll see you tomorrow.