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Ethereum flat during Wednesday trading

85 views · Published 28 February 2018 · 0:59 · Indexed 4 November 2026

Channel: NEWSBTC · 2018 · People & Blogs

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ETH/USD

Ethereum markets drifted lower during the trading on Wednesday, as the $900 level has offered a bit of resistance. We ended up forming a shooting star on Tuesday, and it looks as if Wednesday will do very much the same thing. I believe that the market will reach down towards the $800 level, the bottom of the Bollinger Bands on the daily chart. I believe that a breakdown below $800 sends this market looking for $700 after that. Above, I see the $1000 level as the temporary “ceiling” in the market.

ETH/EUR

Ethereum markets also struggled against the Euro to find momentum. The €700 level has been a bit of a focal point lately, as we have been consolidating between the €600 level underneath, and the €800 level above. I think that the market continues to bounce around in this €200 range, so at this point we are looking at the possibility of drifting down towards the €600 level, but as we are essentially at “fair value”, it might be best to avoid trading Ethereum against the Euro at the moment.

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