Yahoo Finance Ethereum Price Forecast February 21, 2018, Technical Analysis
ETH/USD
Ethereum have done very little during the day on Tuesday, as we continue to hang around the $950 region. I think that the market will continue to see a lot of resistance above at the $1000 level, so we may be in a momentum building scenario, meaning that players are waiting for more volume so that they can add to their position and finally break above that level. Otherwise, the $900 level underneath will be supportive, and the $850 level is even more supportive. I think buying on the dips and adding to your position in anticipation of the break out is how most traders are dealing with Ethereum now.
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ETH/USD Video 21.02.18
ETH/EUR
Ethereum also did very little against the Euro, hanging about the €750 level. I think that the €800 level above is a massive resistance barrier, and if we can break above there it should free the theory markets to go to €900, followed very quickly by the €1000 level. I believe that the market continues to be very noisy but given enough time we should eventually find reasons to go higher, if nothing else – simply because Bitcoin markets have suddenly found buyers yet again. If that’s the case, typically Bitcoin will lead the rest of these crypto currencies higher. I don’t have any interest in shorting this market, but I do recognize that a move above the €800 level should send fresh money into the market, making it an ideal buying opportunity. The meantime, you can build up a position in anticipation.
This article was originally posted on FX Empire
