Ethereum fell slightly after rally during the day on Thursday, but at this point it looks as if Ethereum is continuing to power higher in general. There is an uptrend line underneath, so more than likely this pullback could be a buying opportunity. Adding slowly on the way up seems to be the best way to trade Ethereum, and the longer-term target of $1000 is still very much intact.
Ethereum markets have rallied again during the trading session on Thursday against Bitcoin, and as I record this, Bitcoin looks very vulnerable in general. Because of this, I suspect that every time we pull back in this market there will be buyers below. We have essentially “flipped a major area” by breaking above the 0.05 handle, and as long as we are above that level, it’s a buy on the dip type of mentality.
Thanks for watching, see you next time