Ethereum finds friends on weekends as the market digests the JPM coin

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A very reserved departure for & nbsp; Friday. Maybe some hangovers of Valentine's Day are hiding in the crypto community. The day begins with a few question marks after the appearance of a major market at $ 115 in Ethereum (ETH)& nbsp; late Thursday. It looks like an isolated case, although we imagine

We feel a bit sick this morning. That aside, it's a matter of stability as you go. An ETF application makes headlines and suddenly, ETH costs up to $ 123.30 and & nbsp;& nbsp;Bitcoin (BTC)& nbsp; at $ 3,630. However, after a closer look, the NYSE Arca and Bitwise Asset Management applications have already been announced in January. However, due to the closure of the US government, the SEC's registry has never been touched. It changed Friday. ETH and BTC are $ 120.00 and $ 3560 respectively. Essentially old and the agitation is quickly over. Fast forward to Sunday afternoon and from nowhere, the ETH climbs to 134.40 dollars and the BTC to 3640 dollars. Why? No obvious catalyst other than the lean weekend markets in anticipation of US vacations, but a positive boost will be welcomed by buyers. Reactions to JP Morgan's new JP Morgan coin dominate the rest of the day. Much of the reaction has focused on the supposed hypocrisy of their move. Many asked if it was anything beyond their own stable internal currency. And of course, the potential impact on Ripple's payment platform has been the subject of much debate. Expect these discussions to continue for days.

Technical Analysis & nbsp;

With ETH leading the way this weekend, it is time to look at a medium-term picture. The double-high of last week, just above $ 125, was removed, as was the medium-term resistance at $ 131.54. This now opens a potential movement at $ 148.90, which corresponds to the level of breakdown after failure greater than $ 160. Any drop should remain above last week's double-high. Twelve days ago we had hit $ 100 and even a rollback on resistance at $ 112.35 seemed like a stretch. Today, the technical situation has changed considerably, even if fundamentally, only the feeling towards the approval of an ETF has changed. A 30% rally on the downs is impressive. Is there more to come?

The biggest winner and loser of Sunday

With additional comment & amp; technical badysis by David Hannigan, chief trader, trade.io.

Disclaimer: all opinions expressed by & nbsp; Jim Preissler are only & nbsp; opinions and do not reflect the views of Forbes, Forbes CryptoMarkets, their parent company or their subsidiaries.

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A very reserved start for Friday. Maybe some hangovers of Valentine's Day are hiding in the crypto community. The day begins with some question marks after the publication, last Thursday, of a major exchange at Ethereum (ETH). It looks like an isolated case, although we imagine

We feel a bit sick this morning. That aside, it's a matter of stability as you go. An ETF application makes the headlines and all of a sudden the ETH is at $ 123.30 and Bitcoin (BTC) at $ 3,630. However, after a closer look, the NYSE Arca and Bitwise Asset Management applications have already been announced in January. However, due to the closure of the US government, the SEC's registry has never been touched. It changed Friday. ETH and BTC are $ 120.00 and $ 3560 respectively. Essentially old and the agitation is quickly over. Fast forward to Sunday afternoon and from nowhere, the ETH climbs to 134.40 dollars and the BTC to 3640 dollars. Why? No obvious catalyst other than the lean weekend markets in anticipation of US vacations, but a positive boost will be welcomed by buyers. Reactions to JP Morgan's new JP Morgan coin dominate the rest of the day. Much of the reaction has focused on the supposed hypocrisy of their move. Many asked if it was anything beyond their own stable internal currency. And of course, the potential impact on Ripple's payment platform has been the subject of much debate. Expect these discussions to continue for days.

Technical badysis

While ETH has paved the way this weekend, it's time to look at a medium-term chart. The double-high of last week, just above $ 125, was removed, as was the medium-term resistance at $ 131.54. This now opens a potential movement at $ 148.90, which corresponds to the level of breakdown after failure greater than $ 160. Any drop should remain above last week's double-high. Twelve days ago we had hit $ 100 and even a rollback on resistance at $ 112.35 seemed like a stretch. Today, the technical situation has changed considerably, even if fundamentally, only the feeling towards the approval of an ETF has changed. A 30% rally on the downs is impressive. Is there more to come?

The biggest winner and loser of Sunday

With additional technical commentary and badysis, by David Hannigan, chief trader at trade.io.

Disclaimer: All opinions expressed by Jim Preissler are only his opinions and do not reflect the opinions of Forbes, Forbes CryptoMarkets, their parent company or their subsidiaries.