Ethereum markets struggle again on Friday

ETH/USD

Ethereum markets rallied initially during the day on Friday but turned around again as it appears the buyers cannot hang onto gains for longer-term moves. There seems to be a lot of resistance near the $600 level, extending to the $620 level. Eventually, I think that every time the market rallies there should be plenty of sellers. I think that the level just above is going to continue to be an issue for Ethereum, and I think that the downtrend is very much intact, despite what we have seen over the last couple of sessions. I believe that the $500 level underneath will be a nice target, and I think that will need to be tested.

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ETH/EUR

Ethereum markets initially try to rally against the Euro as well during the trading session on Friday, reaching towards the €500 level. I think there is plenty of resistance extending to the €525 level above, and I think it’s only a matter time before we roll over again. I think that the market probably goes down to the €440 level again, as it will be too important of a target. However, if we break above the €525 level, the market could go to the €600 level after that. Overall, I think that the Ethereum markets will continue to be soft though, so I anticipate that the sellers will return sooner or later. If we do rally, the €600 level above will be crucial for the longer-term move when it comes to Ethereum versus the Euro.

ETH/USD Video 04.06.18

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