ETHUSD has been rather resilient throughout this BTCUSD downturn. However, I have been tracking both closely, and believe ETH may be lagging behind BTC in price movement. I just wanted to post this real quick as a tracking tool.
I may post a more in-depth analysis for ETH in the days to come, but I would set a preliminary price target for around $675 for ETH, potentially as low as $420-$400 for a solid retest of our first major run up.
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Guess we skipped the retest.
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Could still see a push to $1200 for a retest on the bottom trend line. Don't hold your breath though.
Here's a zoomed out picture, if we were to place blind buy targets:
I sometimes watch ETH and BTC charts next to each other on short timeframes. Almost constantly BTC will make a move then ETH will follow. I always figured the robots or traders went with their big money first and then eth second. That and the whole market basically follows btc. I never came to the conclusion about it lagging even farther behind. Good catch.
Filouman
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Really interesting perspective, not something I have thought of before. Thanks for sharing, please update from time to time!