Reason to trust
How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
ETH/USD
Ethereum rallied a bit during the trading session on Thursday, after bouncing from a significant trend line. It did struggle at the $1100 level from what I see, so having said that I am a bit cautious. If we can break above the $1100 level, then I think we could go bit higher, perhaps as high as $1300 level. The lack of volume continues to be a serious problem, as rallies continue to be very light. Because of this, I am a bit cautious, so I would be very slow to add to any long positions. I suspect that this could be a bit of a “dead cat bounce.”
ETH/BTC
Ethereum markets rallied a bit against Bitcoin, but on almost no volume. Because of this, it appears that the market is entering a consolidation phase, somewhere between the 0.08 level on the bottom, and the 0.10 level on the top. Because of this, I think that the market continues its sideways action overall.
Thanks for watching, I’ll be back tomorrow.
