Ethereum Price Forecast February 13, 2018, Technical Analysis

ETH/USD

Ethereum markets tried to rally initially during the trading session on Monday but ran into a bit of trouble at the $900 level. By doing so, it looks as if we are rolling over a bit, and this makes sense as we have seen so much in the way of significant bearish pressure. Volume is very light, so that doesn’t help either. We are trying to touch the 20 SMA on the Bollinger band indicator, which of course should offer a bit of resistance as well. I think there is support at the $800 level, and then eventually the $700 level after that. If we break down below $700, it’s likely that we continue to go even lower. If we could surge to the upside a break above the $1000 level, that would be very bullish for the market.

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ETH/USD Video 13.02.18

ETH/EUR

Ethereum also rallied against the Euro, but much like against the US dollar, gave back some of the gains. It looks as if the €800 level above is going to be massively resistive, and at this point the €700 level has also caused a bit of resistance. If we do roll over from here, I believe that the market probably goes down to the €600 level, and as you can see there’s a lot of noise in this general vicinity, so I think there could be a lot of support. Although I’m not an advocate of buying this pair right now, I think it’s difficult to break down below this area, so therefore I think we are probably going to see more of a bounce around with a slightly negative attitude.

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