Looks like it could be a good year for Ethereum
ETHBTC had a good run this December but has finally hit resistance (or ist just due to the BTC dump yesterday? ;)), at least what looks like resistance. Looking at the Stoch RSI we are way overbought and on the way down again. We do however have multiple support lines to catch us, meaning we don't necessarily need to go all the way back down to the trend support. The first support for ETHBTC is also the 0.382 fib line, so we might very well bounce from there. Either way I would wait with ETHBTC for a while to see where it leads in the following weeks.
As for ETHUSD we're in a channel since late 2016. If ETHUSD were to continue in this channel for the rest of 2018, we would hit at least 42K in USD value. That's crazy to think about, I highly doubt we'll go that high, but who knows? The trend line has worked perfect as support for over a year, might as well hold another year right? Stoch RSI shows it's overbought and is also starting to point downwards, MACD also starting to look like it's about to come down. If ETHUSD comes down to the trend we're looking at a 30% drop, look to buy there.
What are you thoughts?
As for ETHUSD we're in a channel since late 2016. If ETHUSD were to continue in this channel for the rest of 2018, we would hit at least 42K in USD value. That's crazy to think about, I highly doubt we'll go that high, but who knows? The trend line has worked perfect as support for over a year, might as well hold another year right? Stoch RSI shows it's overbought and is also starting to point downwards, MACD also starting to look like it's about to come down. If ETHUSD comes down to the trend we're looking at a 30% drop, look to buy there.
What are you thoughts?
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