Ethereum saw quite a bit of buying during Tuesday, breaking above the $305 level. Now that we are reaching towards the $315 handle, if we can break above there the market is free to go much higher. Pullbacks of this point should be buying opportunities as we have seen a 9% gain as the Americans step into the mix. I believe that the $300 level now should be rather supportive going forward, and that Ethereum will continue to do quite well.
With Ethereum breaking out against the US dollar, we saw similar pressure to the upside against Bitcoin. Bitcoin is struggling with the Bitcoin Gold website being attacked, and I think at this point it makes sense that we may continue to the upside, at least for the short term. Ultimately, this is a market that overall will probably continue to be a bit soft, so I suspect this will eventually be and I selling opportunity. However, right now we don’t have that.
Thanks for watching, I’ll be back tomorrow.
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