ETH/USD Price Forecast January 15, 2018, Technical Analysis

Ethereum is clearly one of the stronger major crypto currencies out there, as we have rallied significantly during the day on Friday, clearing short-term resistance at the $1250 level. I think that this pullback suggests that the buyers will get involved and try to push towards the highs again, closer to the $1400 level. The market has recently crossed over in the overbought region of the stochastic oscillator on the hourly chart, but we are already starting to see the market fight back. I think that the $1400 level above will probably offer significant resistance, but that resistance will more than likely be broken given enough time. I think the longer-term target is the $1500 level, and as far as the crypto currency space is concerned, I think that Ethereum is probably the winner.

ETH/USD Video 15.01.18

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If we pull back from here, there is massive support down to the $1100 level, so I think it’s only a matter of time before you get a supportive candle or a bounce that you can play. I think that the participants will continue to find value on these dips. The US dollar is getting pummeled, and that certainly helps Ethereum as well, as it is a way to mitigate the risk of holding greenbacks. I expect that it will be very volatile, but for crypto currency traders, that’s nothing new. I have no interest in shorting anytime soon, and believe that Ethereum is getting ready to make the next major move to the upside.

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