Ethereum Price Forecast January 25, 2018, Technical Analysis

ETH/USD

Ethereum markets rallied slightly during the trading session on Wednesday, reaching towards the $1050 level. I think that short-term pullbacks will continue to offer value for those who are looking to trade this market from short-term charts, but for those who don’t want to scout the market, it’s very difficult to get involved. This is because there is no volume being attributed to the moves to the upside. I think that the $900 level is going to offer support, but a breakdown below there opens the door to the $800 level next. Until we get volume, it’s hard to believe rallies and I suspect that these short-term rallies should give us opportunities to start selling again.

ETH/USD Video 25.01.18

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ETH/EUR

Ethereum markets were rather noisy against the Euro during the day on Wednesday, as we continue to dance around the €800 level. I believe that we are essentially consolidating, with the €700 level offered support on the bottom, and the €1000 level offering resistance on the top. Because of this, we are essentially in “no man’s land”, and therefore it’s difficult to put a position on. The fact that we have almost no volume doesn’t help the situation either, so I anticipate that we may try to drift a little higher, and then roll over again. Short-term traders will love this type of action, but if you are looking to buy this market for any length of time, you should probably be patient and wait for volume to return. Once it shows itself, it should give us an idea as to which way to go.

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