NEWSBTC: Ethereum sideways on a quiet day
ETH/USD
Ethereum markets went sideways during most of the trading session on Thursday, as crypto currency markets were very quiet. The lack of volume and momentum plagues the market currently, as we hover just below the $875 level. If we can break above the $900 level, that would be significant enough for traders to start pushing the $1000 barrier. The alternate scenario is that we roll over and below the $840 level, searching for the $800 level. Overall, I would not expect fireworks in this market.
ETH/EUR
Ethereum markets rallied slightly during the trading session on Thursday, but just like against the US dollar, Ethereum against the Euro has struggled to pick up momentum. The shooting star that formed on Wednesday does signify that there’s resistance just above, but if we can clear the €720 level, I think the market could be free to go to the €800 level. If we roll over, I would expect support near the €650 level, and most certainly at the €600 level.
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