Good morning to everyone tuning in with us from the US! We're going to be looking at our second coin of the day, Ethereum!
ETH is currently at spot #2 in terms of total market capitalization.
At the time of writing, ETH price is currently at $301, almost unchanged since our analysis yesterday. But, it did witness some action since then. It did manage to continue with the uptrend it had established and actually breached the $305 resistance it struggled with over the past few days.
However as we mentioned, the next level we were looking at was $330, and ETH got rejected well below that at $320. Unfortunately that rejected drove it down below $305 again (we were hoping that if it goes over that it would form a temporary support) and actually go below $300.
However the temporary support established over the past week at $280 is still there, it's just a waiting game at the moment, but it doesn't look too good in our opinion. It will now have to struggle with breaking this new resistance it explored at $320 before any real rally upwards (no matter how short)
On the downside, we'd first like to see $280 prove to be a good support, but if it breaks down from there, next level we'd look at would be $250.
On the daily chart for ETH, technical indicators give a bleak bearish outlook (15 sell, 10 neutral, 1 buy)
On the weekly chart for ETH, technical indicators also give a bleak bearish outlook (15 sell, 8 neutral, 1 buy)
As always, if you have any questions, don't hesitate to reach out via email or through our Telegram group! (links below)
\
How to get in touch with us:
Follow us on Steemit - 
Join our Telegram group - https://t.me/joinchat/GXO2tBJ1TWgm0AHo9d4Scw
*We're always around to be of help in all things crypto and blockchain :)
Email us - [email protected]
DISCLAIMER
NO FINANCIAL ADVICE – The information on this blog is provided for education and informational purposes only, without any express or implied warranty of any kind, including warranties of accuracy, completeness, or fitness for any particular purpose. The information contained in or provided from or through this blog is not intended to be and does not constitute financial advice, investment advice, trading advice or any other advice. The information on this website and provided from or through this website is general in nature and is not specific to you the Reader or anyone else. You should not make any decision, financial, investment, trading or otherwise, based on any of the information presented on this blog or any affiliated channel without undertaking independent due diligence and consultation with a professional broker or financial advisory. You understand that you are using any and all Information available on or through this website at your own risk.
RISK STATEMENT – The trading of Bitcoins and alternative crypto-currencies has potential rewards, and it also has potential risks involved. Trading may not be suitable for all people. Anyone wishing to invest should seek his or her own independent financial or professional advice.