Technical

Ethereum Analysis January 25, 2018

Christopher Lewis | January 24, 2018 | 1:56 pm
ethusd
Technical

Ethereum Analysis January 25, 2018

Christopher Lewis | January 24, 2018 | 1:56 pm

ETH/USD

Ethereum rose slightly during the day on Wednesday as the crypto currency markets have gotten a bit of a reprieve. Regardless, one thing that I am concerned about is the lack of volume that we are seeing. Because of this, I don’t necessarily trust the move higher, but I do recognize that if we break to a fresh, new high, extensively clearing the $1125 level, then buying is the only thing that can be done. I need to see more volume to be convinced otherwise.

ETH/BTC

Ethereum continues to go sideways against Bitcoin, which of course isn’t a surprise, considering both currencies have struggled as of late. We are still consolidating between the 0.08 level on the bottom, and the 0.10 level on the top. Until that changes, range bound trading is about as good as it gets, and quite frankly the last couple of weeks haven’t been worth being bothered with. Until one of the currencies makes a major breakout against the US dollar, expect more of the same.

Thanks for watching, I’ll be back tomorrow.

NewsBTC is a news service that covers bitcoin news, technical analysis & forecasts for bitcoin and other altcoins. Here at NewsBTC, we are dedicated to enlightening people all around the world about bitcoin and other cryptocurrencies. We cover news related to bitcoin exchanges, bitcoin mining and price forecasts for various virtual currencies.

Get the app

Featuring live charts, price analysis, breaking news, currency converter and more. The only bitcoin app you need!