Ethereum - Room Higher? Post Election/Risk On Sentiment AnalysisTraders flooded into crypto assets after the risk on environment given by the Trump administration taking office. This is also coupled with last nights FED meeting where some confidence was show around the state of the US Economy.
May see Traders start to take some profits, especially if we rise to the next key resistance (labelled).
Any falls will provide dips back to key support and Re-entry becomes negotiable.
Any further risk on attitude from the Market on this fall would set the course for returns higher to previous highs.
Ethereum, unlike BTC has been subdued for a while, now it looks like the tables have swapped at least temporarily and traders are willing to take on more risk (Eth being less stable/invested in than BTC).
If you had it long, I'd kill it for gains. If you want to buy, I'd let it fall. Would avoid shorts higher in any large proportion due to inherent risk on both the asset and the Market overall.
