Ethereum Analysis December 14, 2017

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ETH/USD

Ethereum rallied significantly during the trading session on Wednesday, bouncing from the $600 level, and reaching towards the $700 level. At this point, waiting on pullbacks will be necessary to pick up value in a market that is starting to run away, albeit on low-volume over the last several hours.

ETH/BTC

Ethereum has rallied quite significantly against Bitcoin, as Bitcoin has sat still. Now that we are above the 0.04 level, it looks likely that the market is trying to reach towards the 0.05 handle. There is a massive “W pattern” on the hourly chart now, which of course is a bullish sign.

Thanks for watching, I’ll be back tomorrow.