Ethereum falls slightly to start the week

ETH/USD

Ethereum markets against the US dollar rallied slightly at the beginning of the session on Friday but found enough resistance at the $720 level to fall back towards the $700 level. This is an area that has been a bit of a fulcrum for price, and I think that could continue to be the way going forward. I believe that this market will tighten up over the short term, before eventually making an impulsive move that we can pay attention to. In the short term, I believe that a range bound system could be employed around the $700 level. Uses stochastic oscillator something like that if you choose to do so, otherwise look for an impulsive daily candle to follow. It should be pointed out the crypto currencies have been underperforming as of late.

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ETH/EUR

Ethereum markets rallied a bit against the Euro as well, but then pulled back to reach towards the €600 level, which is the magnet for price in this market. If we break down from here, I suspect that the €580 level is the next target. Otherwise, if we can break above the €620 level, the market could finally go higher. I believe that in general, this market will continue to trade between the €580 level on the bottom, and the €620 level on the top. I believe that the market will continue to be very volatile, and you should continue to be very cautious with the position size until we can get some clarity for a larger move. Until then, caution is the better part of valor.

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ETH/USD Video 22.05.18