Yahoo Finance Ethereum Price Forecast March 15, 2018, Technical Analysis
ETH/USD
Ethereum markets initially tried to rally during the day on Wednesday but failed yet again at the $700 level. It now looks as if we are going to reach down towards the $600 level next and breaking down below there could send this market down to the $500 level next. I think that there is plenty of support between $500 and $400 below, so it makes sense that we may struggle to break down underneath there. Either way, when I look at this chart I see nothing good, and therefore I think that rallies are still going to be selling opportunities. Ultimately, I think that the bubble has popped and most of the retail traders are going to be gone when it comes to Ethereum, because quite frankly Bitcoin can’t seem to find a bit either.
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ETH/USD Video 15.03.18
ETH/EUR
On a day that the EUR fell in the Forex markets, I find it quite telling that Ethereum can’t gain against it. This tells me that Ethereum is more than likely going to go looking towards the €500 level underneath, which is a psychologically important level. Ultimately, a breakdown below there would free the market to go down to the €400 level. I believe that the crypto currency bubble has popped significantly, and at this point we need to go back to pre-mania levels for important volume to pick back up. I think €600 above continues to be a ceiling going forward as crypto currencies continue to unwind overall.
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This article was originally posted on FX Empire