Ethereum Price Forecast January 30, 2018, Technical Analysis

ETH/USD

Ethereum markets continue to roll over in general, and we have struggled against the US dollar obviously. The market has found itself drifting a bit lower, and on extraordinarily low volume. The only thing that has shown volume during the day was a very negative candle. This was at the open of the session, and it looks as if we are ready to continue rolling over a little bit. The $1100 level should offer plenty of support, least in the short term. Ultimately, I think this market will probably find buyers in that area, but we don’t have significant conviction in one direction or the other for me to put massive amounts of money to work.

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ETH/USD Video 30.01.18

ETH/EUR

Ethereum has also drifted a bit lower against the Euro, showing significant volume to the downside at the $1000 level. I think that the market could very well roll over a bit towards the €900 level, and I think that the lack of volume remains a bit of an issue. However, the EUR/USD pair has been falling during the day, so this pair may fall less than the ETH/USD pair. It’s a simple mathematical equation between the 3 currencies, as to which direction one of these pairs will go. Currently, looks as if the Ethereum will continue to soften, and if that’s the case you want to go with the stronger currencies against it, in this case it would be the ETH/USD pair, at least for the short term. Longer-term, it will probably turn things around.

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