Ethereum Analysis for December 18, 2017
Ethereum initially fell during the trading session on Friday, testing the vital $600 level. We have rallied significantly since then, so it looks as if this market is going to continue to be a “buy on the dips” situation. I believe that eventually we will go looking towards the $700 level, and that of course the $800 level after that. A breakdown below $600 could send this market down to $500.
Ethereum broke down against Bitcoin, and now that we are below the 0.04 level, and of course Bitcoin is rallying significantly, I believe that this market will continue the downward trajectory, perhaps reaching as low as the 0.025 level underneath.