Yahoo Finance Ethereum forecast for the week of February 26, 2018, Technical Analysis
ETH/USD
Ethereum initially fell during the course of the week, turning around to bounce above the $860 level. The market looks likely to continue to find a certain amount of noise in this market, and I see this as a market that should continue to reach towards the $1000 level above. I believe that area near the $1000 level should be massive resistance and be difficult to break above. Ultimately, I think that it is going to be a situation where we go back and forth over the next couple of weeks.
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ETH/EUR
Ethereum were also noise against the Euro, initially falling but then turning around to form a bit of a hammer. However, I see a significant amount of resistance near the €800 level, so I don’t think it could be that easy to break out to the upside. Beyond that, Bitcoin markets look a bit suspicious as well, and that might weigh upon the entirety of the crypto currency space, with the theory and being no different. Longer-term, if we can break above the €800 level, the pair is probably likely to go to the €1000 level. Alternately, we could drift to test the bottom of the hammer that formed a couple of weeks ago, meaning that we could go as low as €500. One thing I think you can count on is noisy trading.
ETH/USD Video 26.02.18
This article was originally posted on FX Empire
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