Just as in the Bitcoin, Ethereum is slowly gaining the value it lost on Thursday this week. Also worth noting is that the price failed to break below the hourly support level 581.80, rather, it barely touched this level before retreating to the upper side. As long as the price remains above, 581.80, we expect a possible momentum to the upper side with our next target being 715.22. According to the hourly chart above, this crypto is pretty much bullish and only long positions can be recommended, however, should the price get below 581.80, then we may look for short term short positions towards 468.80.
We’re long towards 715.22
You may check other analytical reviews on FreshForex website. Source: freshforex.com.