Ethereum markets fell a bit during the trading session on Thursday, as the $1100 level offered a bit of resistance. Low-volume is a concern as we have seen it around the crypto currency markets. Because of this, I believe that we will probably stay somewhat range bound, with $900 offering a bit of a “floor” going forward. Expect choppy and lackluster trading.
Both of these crypto currencies are essentially doing nothing at the moment, so it makes sense that we continue to drift. I have maintained for several sessions that we are consolidating between the 0.08 level on the bottom, with the 0.10 level offering resistance on the top. I don’t see anything on the chart that tells me this is going to change.
Thanks for watching, see you on Monday.