IMPORTANT DISCLAIMER

ETH/USD 01.06.2017

ETH/USD Chart

ETH has faced correction with the whole market. However, Ethereum has not only recovered its positions, but also showed a significant growth and secured itself behind a strong resistance zone of $200.

The $200 resistance zone is now a support zone. Retests of this level have already taken place and it has shown itself strong.

Ideas are the following:

  • During the next retest, buys with a stop below $200 will be a good deal. It will be a bull signal and it is likely that ETH will show new peaks of $250 and higher
  • If otherwise, a fixation behind the support zone will happen - it will be a signal for volatility decrease and new channel formation. In this case, watch for the price at a potential level of $185.

Considering the trend, the most likely turn of events is new highs.

One should also not forget about the fundamental news. If you trade this pair, it may be useful to follow Vitalik Buterin’s Twitter, his announcements can strongly influence the market. It is especially crucial in the current situation when Ethereum reaches new highs every day.

Out of obvious risks, only infrastructure ones can be singled out:

  • Gas price
  • Possible bugs

Gas price is essential right now. The way it turns out can highly influence Ethereum price in the future.

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