zorjak
Long

ETH in the phase of consolidation before it becomes bullish

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
I have already proposed some ETH movements here which was initially correct


600$ was strong support, and ETh was oversold ( RSI touched 20 on 8-hour chart) and ETH had to bounce. 800$ is the next resistance (the next Fibonacci level) and if it gets broken the following levels are 900$ and 1000$.

After that, I expect some retracement and period of consolidation before ETH becomes bullish again. On long-term, I hope ETH to reach 2000$ this year (before the summer).
In general, I think that all the FUD about Cryptomarket is ending, and a consolidation phase has started. We should not expect high dips anymore, although there is a small possibility that ETH falls to 500$ again in February for a short period. Even if the market starts to fall we can expect new buyers to enter which will push the price up very soon.
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