ETH - Short Term Analysis

BITSTAMP:ETHUSD   Ethereum / U.S. Dollar
ETH - Chart speaks for itself. Three important things to observe carefully:

1- Support at 680 level. If it does not hold, we may go down to 610 level (which may open up new trading opportunity).

2- Major resistance at 750 level.. Currently retesting again.. If broken, next target is 850 level and then 1020 level (if upward movement continues)

3- Also, watch out trading channel and minor support line.

** Trade at your own risk and do your research before setting up a new trade.
Dec 26
Trade active: All right. We are testing the resistance at 750. It is a major one..May take some time, it may not as well. Once it is broken (make sure get confirmation), then we are set to go up to 850 level as target 1. Once confirmed, you can buy at 750-760 level and aim at 850 for profit. If not, we may drop but have a strong support at 680.
Dec 26
Comment: We are moving to Target 1.
Dec 28
Trade active: Retesting the resistance again. I think we have a strong and steady movement. Hopefully we will break the resistance - but of course everything depends on BTC movement.
Dec 30
Comment: Nothing fancy at this point. Still sailing inside the channel. Supports are strong. Waiting for the market (BTC) to complete correction.
Jan 01
Comment: Congrats. First target is reached. Moving up strong. Second Target is 1020 level.


I was following your LTC analysis, and that brought me here for your ETH analysis here. This analysis is just as great, thank you for sharing. Thank you for putting in the time to spell out your thought process and easy to digest guidance. You have a fan. Please keep it up.
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