ETH/USD is maintaining its highest trading band and speculators participating within the marketplace may be growing nervous at these heights.
ETH/USD has produced unbelievable gains the past few months. The steady climb up has resembled a rocket ship. Speculators who have been fortunate to profit from the bullish trend within the cryptocurrency markets have plenty to brag about taking into account the rise in value of ETH/USD.
In early trading today, ETH/USD is hovering near the 1800.00 juncture as it trades within striking distance of all-time highs. On the 13th of February, ETH/USD was trading near the 1873.00 mark. However, the climb higher and record feats have not come without plenty of volatility too. On the 15th of February, yesterday, ETH/USD was also trading near the 1685.00 level below. If you blink when trading cryptocurrencies at its current pace, you may miss a giant move. Speculators need to understand the moves can be higher, but they can also be lower.
The price of ETH/USD is certainly moving fast. Traders are strongly advised to use limit orders when entering their trading positions to guard against price fills which may cause emotional distress if they do not meet expectations. The 1800.00 price of ETH/USD, which appears to be a battlefront currently, has seen the juncture targeted for the past week with strong reversals taking place in both directions.
ETH/USD should make traders nervous as they enter its waters. The use of correct leverage and secure limit orders cannot be overstated. As the cryptocurrency marketplace reaches new highs, it is getting the attention of many speculators, but it is also receiving the attention of skeptics who remain prominent. However, the ability to achieve record values within ETH/USD and other digital currencies has not only developed via the power of retail speculators, it has been given additional impetus by corporate entities starting to exhibit an increased interest in their use.
The value of ETH/USD looks quite high considering its phenomenal momentum it has enjoyed upwards the past few months. However, attempting to buy ETH/USD on pullbacks remains a reasonable speculative wager considering its ability to prove that resistance is vulnerable. Traders need to remain patient and not expect their wagers to produce immediate results. Violent reversals are part of the trading landscape within ETH/USD and speculators need to be prepared for the potential of fireworks at all times.
Ethereum Short-Term Outlook:
Current Resistance: 1818.00
Current Support: 1769.00
High Target: 1867.00
Low Target: 1695.00