With the current drop in BitCoins (BTCUSD), let's also take a look at the near-term price movement of Ethereum (ETHUSD).
Investors like you may be wondering the near-term price movement in the following week. From a technical outlook, ETHUSD hit all-time high of $875 on 19 Dec 2017 but since then it had two bearish candles in the last two trading days. So, indeed there is a near-term bearish bias on this instrument.
Based on our forecast, we could potentially see ETHUSD retrace to $580 as our first target before a possible rebound were to occur. However, if this level cannot provide the necessary support, ETHUSD could potentially retrace to $500.
DISCLAIMER
Our research materials are provided for information purposes only. They should not be used or considered as an offer to sell or a solicitation of an offer to buy any securities. The research materials are prepared for general circulation and general information only. They do not take into account the specific investment objectives, investment knowledge and experience and financial situation of any recipient. Investors seeking to buy or sell any securities discussed or recommended in our research materials, should seek independent financial advice relating thereto and make his/her own appraisal of the tax or other financial merits of the investment.
Any opinions expressed are subject to change without prior notice. Our research materials are based on information from various sources believed to be reliable. Although all reasonable care has been taken to ensure that such information is not misleading, we make no guarantee, representation or warranty, expressed or implied as to its accuracy, adequacy or completeness. We do not accept any liability whatsoever for any direct, indirect or incidental, special or consequential loss of any kind arising out of the use or reliance on the information in our research materials.
Investors like you may be wondering the near-term price movement in the following week. From a technical outlook, ETHUSD hit all-time high of $875 on 19 Dec 2017 but since then it had two bearish candles in the last two trading days. So, indeed there is a near-term bearish bias on this instrument.
Based on our forecast, we could potentially see ETHUSD retrace to $580 as our first target before a possible rebound were to occur. However, if this level cannot provide the necessary support, ETHUSD could potentially retrace to $500.
DISCLAIMER
Our research materials are provided for information purposes only. They should not be used or considered as an offer to sell or a solicitation of an offer to buy any securities. The research materials are prepared for general circulation and general information only. They do not take into account the specific investment objectives, investment knowledge and experience and financial situation of any recipient. Investors seeking to buy or sell any securities discussed or recommended in our research materials, should seek independent financial advice relating thereto and make his/her own appraisal of the tax or other financial merits of the investment.
Any opinions expressed are subject to change without prior notice. Our research materials are based on information from various sources believed to be reliable. Although all reasonable care has been taken to ensure that such information is not misleading, we make no guarantee, representation or warranty, expressed or implied as to its accuracy, adequacy or completeness. We do not accept any liability whatsoever for any direct, indirect or incidental, special or consequential loss of any kind arising out of the use or reliance on the information in our research materials.