Ethereum markets fall slightly on Thursday

Ethereum markets fell slightly on Thursday, hanging in the same consolidation area that we had been in for a while. I think that the market will continue to see a lot of volatility, but quite frankly Ethereum has been leading the way for the most part in the crypto currency markets. I think that should continue to be the case. · FX Empire

Christopher Lewis

Updated Thu, May 17, 2018, 11:10 PM

ETH/USD

Ethereum markets fell a bit during the day on Thursday but seems to be more attracted to the $700 level than anything else. I believe that the market should continue to be very choppy, but I think it we can break above the $740 level, the market is likely to continue to go to $760, and then eventually $800. Short-term pullbacks continue to find plenty of support at the $640 level underneath, it’s not until we break down below there that I would become concerned.

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ETH/EUR

Ethereum markets fell against the Euro, falling from the €600 level. The €580 level has offered a bit of support recently, and I think that we will continue to see a lot of buyers in that region. However, if we were to break down below there I think there is more support at the €550 level. I believe that eventually the buyers will step in but it’s obvious that we have been very noisy to say the least, and I think that it’s going to take a significant amount of wherewithal to hang onto the market through the significant amount of noise that will more than likely be a main factor in trading. I think that the market will eventually form some type of base, but of course we need to keep the idea of the opposite happening and set up accordingly. On a break below the €540 level, I think we drop to the €500 level in that situation.