Ethereum markets fell a bit during the trading session on Tuesday, as we continue to dance around the $600 level. This is an area that of course will attract a lot of attention due to the large, round, psychologically significant figure. We are starting to rollover a little bit, so the question now is whether it continues, or if it simply the market trying to build up enough momentum to go higher. In order for me to start buying, I would need to see this market break above the $625 level. Otherwise, I think you break down below the $575 level will send this market quite a bit lower, perhaps as low as $520 again.
Ethereum markets were very choppy against the Euro as well, as we continue to see a lot of noise around the €500 level. It looks as if the market is trying to roll over little bit, but I think the next 24 hours will be crucial. If we break down below the €480 level, I think the market will unwind and send the market down to the €440 level next. Otherwise, we will probably bounce and tried to approach the €540 level, but overall I think that this market is going to be back and forth at best, so keep in mind that the volatility will be a major part of trading this currency pair, but that’s not anything new. In general, I think you should keep your trading position somewhat small in the meantime.