The Ethereum market moved higher during Thursday’s trading session as we continue to see a bit of upward pressure , so we will continue to swim with the flow. Despite the upward pressure, the market gave back quite a bit of profit at the end of the session, so it looks like we could be setting up for a shooting star formation. At that point, the market is likely to enter a new uptrend line. On the other hand, if we turn around and break down below $1800, then the market could drop to $1700, and then perhaps down to $1400.
That Being Said
Ethereum is still pretty far out on the risk appetite spectrum, so we need to have a more bullish market when it comes to risk in general. We are not going to be overly bullish unless we get some sort of help that the market is trying to get from the Fed. However, if Bitcoin starts to sell off, it could be negative for this market.
Ethereum goes for it all: it already surpasses Bitcoin
