Ethereum Price Forecast January 29, 2018, Technical Analysis

Ethereum markets fell initially during the day on Friday, but then bounced enough to show signs of life again, only to roll over. The market ended up doing almost nothing for the day, as we have seen this phenomenon for the last 2 weeks. I believe that the market continues to find the $1000 level to be interesting, but quite frankly not enough to cause the market participants to jump in. Volume has been drifting lower for the last couple of weeks, and until volume picks up, I quite frankly wouldn’t be interested in trading this market for anything more than a short-term scalp, in either direction.

Get Into Ethereum Trading Today

ETH/USD Video 29.01.18

The Ethereum markets did a bit more during the session against the Euro but continues to be somewhat sideways driven as well. It looks as if the €800 level is offering a bit of a magnet, but I think that level will end up being insignificant, because the volume just isn’t there. Short-term pullbacks offer short-term buying opportunities, but that being said I believe that short-term rallies offer selling opportunities. It looks as if we are going to consolidate between the €760 level on the bottom, and the €880 level on the top. Using the stochastic oscillator as a possible signal could be a way to play this market, but until volume returns, it’s difficult to imagine a scenario in which we should be buying for a larger move. Beyond that, the Euro continues to be very strong. Because of this, it’s can be difficult for Ethereum to take off.

Buy & Sell Ethereum Instantly