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.
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.