Ethereum Price Forecast February 27, 2018, Technical Analysis

ETH/USD

Ethereum markets were noisy and positive during the trading session on Monday, as the market should continue to try to build up enough momentum to break out to the upside. I think that the $900 level will be crucial, and if we can break above there, the market should then go looking towards the $1000 level next. Short-term pullbacks probably offer buying opportunities, but the market breaking below $800 would be extraordinarily negative. I think we are starting to see volatility returned to the crypto currency markets, as we are trying to break a significant resistance above.

ETH/USD Video 27.02.18

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ETH/EUR

Ethereum markets also rallied against the Euro, showing signs of strength again. However, somewhere near the €725 level there is a significant amount of resistance, so I think that it’s going to be difficult to break above there. If we do, then the market is free to go much higher, perhaps reaching towards the €800 level. I think that pull backs make sense, and I think that they will be opportunities to pick up value. The market will continue to push to the upside, unless of course something changes. If we were to break down below the €650 level, I think the bottom would fall out in the floor, but right now I don’t think that is very likely to happen. I think a lot of noisy trading is probably what we are to expect, and I think it’s only a matter of time before short-term traders will push in both directions. I think choppiness is to be expected, but I would have an upward bias overall.

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