For sometime now, we’ve paid close attention to crypto currencies and the benefits they could yield.We looked at Bitcoin,ethereum and litecoin. We the studied these pairs price movement and how each crypto is different from the other. In today’s post we analyse the ETHUSD pair and find out where price could be headed in the near future.
The ETHUSD (ethereum) currently trades at level 391.418 a few points away from the $400 mark. In the chart you will notice that price has surpassed level 349.770 which now acts as our support for the bullish trend. Now with price trading at level 391.418 .We believe that there is a huge opportunity for crypto traders to leverage from. In the chart, you will see that the all time high is set at level 1425.178055 .This is currently a million points away from where price trades today.
This allows smart traders to get bargain entries on their positions. whether trading for the long term or short term. This could be profitable in the long run if traded correctly. With ethereum being the second most popular crypto currency since its ICO in 2014. We can say that this form of block chain technology presents a unique coin proposition for traders to diversify their portfolio. It is different from bitcoin or litecoin and it is not as volatile as is most cryptos.
Our analysts at FXSits believe that this could be a good way to diversify your portfolio and be an early entrant in the crypto wave.For more information on where to enter and exit the pair feel free to join our smart plans
NB: Warning Before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. Consider position sizing before entering a trade and manage your risk accordingly. Please read the risk warning before deciding to trade the markets.