ETH/USD is flirting with short-term highs as an intriguing reversal higher has formed and may stir the hearts of optimistic bullish speculators.
In early morning trading, ETH/USD has been able to topple the 2,000.00 juncture and touched a high briefly near the 2,224.00 ratio.
If Ethereum is able to jump the important psychological mark of 2,000.00 and sustain its value above, this would spark raised eyebrows. of May ETH/USD battled the 2,000.00 region and finally melted beneath the level, and began to seek new long term lows with a crushing amount of selling. The question day traders need to consider is if the rally being displayed now has legitimate staying power or if it will quickly disappear.
The costs of transactions must be factored with such close by targets and this raises the potential that a larger amount of leverage is needed to create profitable results when trying to scalp ETH/USD with fast results – which carries significant risks if the market goes against the speculator. Traders who prefer momentum to be on their side may want to wait until Ethereum shows even better results.
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