Ethereum Price Forecast February 20, 2018, Technical Analysis

ETH/USD

Ethereum markets rallied a bit during the day on Monday, showing signs of strength again but I think that the $1000 level above is going to be rather resistive, and it’s not until we break above that level that I think the market will be able to pick up enough momentum to continue going higher. Pullbacks are likely, but those pullbacks could be a bit of a momentum building experiment, with the $900 level underneath being the beginning of significant support. Choppiness continues to be a mainstay of this market, as we are trying to build up the momentum necessary to finally break out. If we break down below the $800 level, that will send this market down to the bottom again.

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ETH/USD Video 20.02.18

ETH/EUR

Ethereum markets rallied slightly against the Euro as well, but just like against the US dollar, we have a significant amount of resistance just above, in the form of the €800 level. If we can break above the €800 level, the market will take off to the upside, probably reaching towards €900 rather quickly. There should be a lot of volatility regardless, and I believe that the market will continue to be very difficult to deal with, so it becomes more of an investment than a short-term trade from when I see.

I believe that the €600 level underneath is the “floor” in the market, and if we were to break down below there, the Ethereum markets would come unraveled. However, I believe that there are value hunters out there propping it up currently.

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