Ethereum Price Forecast February 2, 2018, Technical Analysis

ETH/USD

Ethereum markets broke down nastily during the trading session on Thursday, slicing down on heavy volume. Crypto currencies are getting slaughtered, and of course Ethereum isn’t going to be any different. I believe that we will find ourselves reaching towards the $1000 level next, and it could be reached by the time you watch this video. Ultimately, this is a market that has massive resistance built in at $1100, and I think it’s only a matter of time before sellers return every time we try to rally. The markets continue to struggle, and if the US dollar rallies, that could be the end for many crypto currencies out there, Ethereum would very easily find itself reaching towards $500.

ETH/USD Video 02.02.18

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ETH/EUR

Ethereum markets have collapsed against the reaching down towards the €820 level. I believe that if we break down below there, the market will go to the €800 level, and then eventually the €750 level. Ultimately, I believe that this market goes down to the €500 level, and beyond. This market is completely broken, and the only time we see volume is when we are selling. As far as buying is concerned, it’s very unlikely to fire off a buy signal, and if you have the opportunity to short crypto currencies through a Forex broker with high leverage, that is the only trade that I see. While things can change, it would take a lot of work to change the attitude of this market, and I think that we will need to see major work done.

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