Ethereum Price Forecast January 24, 2018, Technical Analysis

ETH/USD

Ethereum has pulled back a bit during the trading session on Tuesday, reaching towards the $900 level. There is a serious lack of volume though, so I think it’s likely to be a bounce that will fail yet again. The $900 level is psychologically important, but structurally, it’s much more important to hang on to the $800 level underneath, and I think at this point it’s likely that we will test that area as traders will be curious to see that barrier reached. If we break down below the $800 level, the market should continue to go much lower, perhaps reaching the $600 level after that based upon longer-term charts.

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ETH/USD Video 24.01.18

ETH/EUR

The Ethereum markets drifted a bit lower during the trading session on Tuesday, testing the €750 level. This is a market that is mimicking what we are seeing against the US dollar, and the €700 level underneath should continue to offer support. However, there is very little in the way of volume and therefore I think that rallies will probably fail again. The €840 level looks to be resistive, and I think the sellers will return and then. If we break down below the €700 level, the market goes looking for the €650 level next, followed by €600. The volatility in the crypto currency space continues overall, and I think this market will be any different. Ethereum seems to be a little bit more loved longer term, so I think this will be one of the first markets to rally if the overall crypto currency world turns around after the recent bloodbath.

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