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Ethereum markets continue to go sideways, but when I look at the longer-term move on the 4 hour chart, it’s likely that the overall bottoming pattern should persist. And if we can get enough momentum to reach towards the upside and break above the $316 level, the market should continue to go towards the $350 level above. In the meantime, I think short-term dips offer short-term buying opportunities in a market that looks very likely to try to go higher.
Ethereum fell against Bitcoin again, and it now looks as if the overall downtrend continues. The 0.048 level underneath should continue to be a target, and a breakdown below there has this market even lower, as this market continues to be one that continues to offer selling opportunities on rallies. It’s not that I don’t like Ethereum, it’s just that everybody likes Bitcoin.
Thanks for watching, will be back on Monday.