Ethereum Analysis December 13, 2017

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ETH/USD

Ethereum broke out over the last day, clearing the $500 level. It now looks to go parabolic and race towards the $600 level, which is the extension of a measured move from the previous rectangle. $600 should offer resistance, so look for a pullback at that point. $500 should be support going forward.

ETH/BTC

Ethereum continues to rally against Bitcoin, but as I stated yesterday, the 0.035 level is offering resistance. At this point, it looks likely that a pullback could happen, but a move above that level sends this pair looking for the 0.04 level above which is of course psychological resistance.

Thanks for watching, I’ll be back tomorrow.