Ethereum has rallied slightly during the trading session on Friday, but quite frankly we still have a major problem with volume. $1100 looks likely to offer resistance, and we will probably roll over to consolidate some more. The next move that has significant volume will lead the way going forward. With lack of bullish volume, this market is more likely to roll over and fall than anything else.
This market has been consolidating for several days, and shows no proclivity to break out of this range. Because of this, short-term range bound trading can be employed, using the 0.08 level as the “floor” in the market, and the 0.10 level as the “ceiling”. Because of this, short-term trading is probably the best you can hope for, but for those who can be nimble and quick, it could be very profitable trading.
Thanks for watching, I’ll be back tomorrow.