Ethereum Price Forecast March 13, 2018, Technical Analysis

ETH/USD

Ethereum markets initially tried to rally during the day on Monday but struggled at the $750 level. We rolled over and then broke down towards the $710 level, perhaps reaching towards $700 once we get finished to the downside. I believe that the market should continue to be very noisy, but it appears that we are not able to break out. Because of this, it’s very likely that the sellers will continue to return. However, if we were to break above the $775 level, the market could go higher. At this point, I suspect that the $650 level underneath is essentially the “floor” in the market.

ETH/USD Video 13.03.18

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ETH/EUR

The Ethereum markets also rolled over against the Euro, after struggling at the €600 level. The market now looks ready to break down, and I suspect that we are going to go looking towards the €500 level next, as we continue to consolidate overall. If we were to break above the €625 level, then the market could go much higher, perhaps reaching towards €700. Ultimately, I believe that the market will continue to be very noisy, but it’s obvious that we cannot pick up enough momentum to break out to the upside. As I record this, markets are starting to pick up steam to the downside, so clearly, we are going to continue to see a lot of noise. If we were to break down below the $525 level, the market would probably break down to the $500 level rather quickly. If we break down below the $500 level, then we probably fall towards the $450 level.

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