Ethereum Hits $325 — June 10th 2017

Key Highlights

• ETH price after an exponential upside swing to $325 (updated) against the USD found bearish traders
• ETHUSD is currently supporting mid $290, and might be heading towards a support area over $320
• The most important support on the downside is near $250 where bulls might appear.

Ethereum price after an exponential upside swing towards the $300 level found sellers against the USD, and now ETHUSD is supporting mid $290.

Ethereum

It was an exponential upside ride for Ethereum this past 30 days; as it has jumped towards $300 against the USD. It looks like a support wave has started with a move around $250-$300. It is very crucial to watch for the next retracement. $251 is currently on 23.6 fib level while support is building up around $265 to $285

The next major support on the downside is near $200, as it coincides with the 38.2% fib retracement level of the last wave from the $196 low to $262 high. It is where the price might find buyers and get bids near $250. However, I would say that the price might find the best support near $285.

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Just a few strategies you can use for this market.

• Buy and hold, without caring about day-to-day (or even month-month) fluctuations
• Buy and hold a core position and add on the major retracements; a very powerful strategy
• Buy a certain amount every week or month, and even-out your entry price, without the hassle of timing the market
• Try to catch major retraction to reduce and “re-boost” your position

I will keep providing weekday/weekend market outlooks on a few high-valued markets.