ETH/USD

Ethereum markets fell again during trading on Friday, losing a bit over 3%. The $400 level being broken of course is a negative sign, and I think that we will probably go looking towards the $300 level next, as every time this market rallies, it seems that sellers come back into play. Even if we did rally from here, I believe that the $500 level will be the next major resistance barrier, and there’s no scenario where I’m willing to buy this market, least not in the near term. That being said, when you look at the longer-term charts, I think that somewhere in this general vicinity is where the buyers may try to make a stand.

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ETH/EUR

Ethereum markets fell a bit during the trading session on Friday, as we continue to see the EUR strengthen in the Forex markets, and of course that should send this pair lower. I believe that there is a significant amount of noise underneath, so it’s possible that we could get longer-term players coming in to try to take advantage, but quite frankly I don’t see anything on this chart that makes me want to put money to work. I believe that the €200 level could be the target, as the markets seem to have a lot of support in that area. I believe there is a massive amount of resistance near the €400 level. A break above there would be a target of €500 just waiting to happen. I think that this market continues to be noisy, yet negative.

ETH/USD Video 09.04.18

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This article was originally posted on FX Empire

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