Ethereum dips initially during the trading session on Wednesday, but bounce enough to reach towards the $830 level. I believe that we are going to continue to go higher, perhaps reaching towards the $875 level again. The buyers returning is a good sign as value hunting continues. Volatility will continue as volume drops ahead of Christmas, but longer-term we should go higher.
Ethereum has gone sideways against Bitcoin over the last 36 hours as we are topping out near the 0.046 level. If we can break down below the 0.044 level, then I would be a seller. Otherwise, we may go looking towards the 0.05 handle above which is a large, round, psychologically significant number.
Thank you for watching, I’ll be back tomorrow.