Ethereum Price Forecast February 15, 2018, Technical Analysis

ETH/USD

Ethereum markets rallied against the US dollar during trading on Wednesday, breaking above the $850 level and looking to threaten the $900 level. On a break above that area, I anticipate that the market will go looking towards $1000. Volume is still a little bit late, so a pullback is probable, but that pullbacks could be thought of as value that traders are willing to pick out. I ultimately believe that the market will try to go to the $1000 level, but we need to pick up the volume and the impulsivity to make that happen. Remember, Ethereum markets are very thin so it isn’t like trading stock markets, volume matters as there just aren’t as many participants.

ETH/USD Video 15.02.18

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ETH/EUR

Ethereum markets rallied against the Euro as well, breaking above the €700 level. By doing so, the market looks as if it is ready to challenge the €750 level, and then the important €800 level. Volume is still very thin, but during an accumulation phase this isn’t something that is to be unexpected. I believe that the “smart money” is getting involved, and they move above the €800 level would probably bring in more retail traders. This will be especially true if we can get volume with that move. On a spike in volume in a clearance of the €800 level, I feel that this market takes off again.

Between now and then, it looks as if short-term pullbacks will offer buying opportunities as the €600 level should offer support. A breakdown below that level would obviously be very negative.

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