Ethereum Analysis December 29, 2017

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ETH/USD

Ethereum fell initially during the trading session on Thursday, reaching towards the $675 level before bouncing. It looks as if we are ready to rally though, and I think the market is probably going to go looking towards the $770 level above. A break above the $775 level opens the door to $800 next. If we do fall from here, I expect to see massive support at the $600 handle.

ETH/BTC

Ethereum continues to fight against Bitcoin which of course has been a bit soft. I think we are currently testing a range, meaning we could rise to the 0.053 level, but anything beyond that is probably expecting a bit too much during the holiday season. Look at the 0.045 level as massive support.

Thanks for watching, I’ll be back tomorrow.