Ethereum Price Forecast March 22, 2018, Technical Analysis

ETH/USD

Ethereum markets rallied during the Wednesday trading, reaching towards the $590 level, and then pulled back a bit to find support underneath. I think if we can break above the $600 level, the market is probably going to go to the $625 level beyond that. Once we break there, the market then goes looking towards the $700 level. Alternately, I think there is support down to the $520 level currently, and I think that short-term pullbacks will be buying opportunities at the first sign of a bounce, just as we have seen during the day on Wednesday.

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ETH/USD Video 22.03.18

ETH/EUR

Ethereum rallied against the Euro on Wednesday as well, reaching towards the €480 level during the day. That area extends to the €500 for resistance, so it’s not until we break above the €500 level that we can continue to go higher. I think that the €550 level beyond that is likely to be targeted, and therefore I have no interest in buying until we clear the resistance just above. We are likely to see a bit of choppiness, with support below at the €450 level. I think that given enough time, we could break out, but it’s going to take a significant amount of momentum to continue to go higher, reaching towards the €600 level. Ultimately, I believe that the market continues to be very difficult to take advantage of, but if you are patient enough and use small enough position sizes, you should be able to withstand the volatility.

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