Ethereum started the new year of with a bang, blasting through the $740 resistance and we only started seeing some sellers step in from the 880 zone.
Our Premium members jumped in at $740 when alerts were triggered for some nice gains.
The ETH market is incredibly bullish right now, but we might face a short term correction here before pushing for new ATH’s.
Short term support is between 830 – 840 and this is also the place to set some buy orders if you are looking to catch the bounce. (Should prices drop back to the bottom MA).
You can look for the breakout trade above 880 – 900 where I am sure the fomo will start to set in should the bulls push it some more today.
On the short side I will look to 800 if 830 should fail and on the medium term 740 should act as a very solid support.
The EtherZero hard fork is due to happen on the 19th of January so I am calling a long on ETH here because the technicals and fundamentals are very bullish at this point in time.
I would recommend Ethereum as a long term hold for anybody at this point in time. Safe trades. Feel free to discuss this trade setup with us in our Slack or Discord.