ETH/USD
Ethereum markets rallied slightly during the day on Tuesday, gaining about 4% as I record this. The top of the overall consolidation range looks likely to continue to be resistive, so I think it that we will probably see sellers coming back near the $420 region. I think that the general attitude to this market continues to be back and forth, and I think that the sellers are still in control when it comes to longer-term trading. I think that the $360 level underneath should be massive support, and I’m not looking for a breakout of this range anytime soon. Even if we did break above the top of the consolidation, I think the market would probably run into a lot of trouble near the $460 level.
ETH/EUR
Ethereum markets rallied over 5% as the Americans came aboard. The market looks likely to continue to see resistance near the €350 level, which is an area where we have seen sellers in the past. It’s also previous support, so I think that it is only a matter of time before we see sellers jump back into this market, perhaps pushing it towards the €300 level. A breakdown below the €280 level would then send this market to much lower levels, which is my longer-term outlook for this market, as Ethereum cannot seem to pick up significant momentum at all. I believe that the rallies continue to be sold, and don’t have much in the way of interest when it comes to buying this pair, or most crypto currencies in general as they have performed so miserably.