Ethereum markets initially fell during the trading session on Tuesday, but the 20 SMA on the 4-hour chart continues to offer great dynamic support, as well as the $1100 level. As I look at this chart, it becomes apparent to me that we will eventually try to break above the $1250 level, and go much higher. The strength of this market continues in a very believable and steady manner.
Looking at 4-hour charts in the ETH/BTC market, you can see that it shows signs of strength as well. We may be a little overbought at this point, but look at pullbacks as an opportunity to pick up value. Bitcoin has been drifting lower as of late, while Ethereum has been surging. Simple math tells you that this pair needs to go higher.
Thanks for watching, I’ll be back tomorrow.