Ethereum Recovers, Eyes $4,100: Finds robust support at $3,000, buoyed by global central bank easing and rising demand. ETF inflows and Bitcoin’s influence boost Ethereum’s momentum.
Buying on the DipsUltimately, this is a market that we continue to see a lot of buying on the dip, and this move has been rather impressive. Furthermore, you have to look at this through the prism of interest rates in not only America, but around the world. Central banks are looking to loosen monetary policy, and in fact, the Swiss have done so during the early part of the session. And that brings in more demand for Bitcoin, which has a effect on Ethereum. Ethereum ETF is certainly in the cards now and we should see a lot of inflow into Ethereum due to basically repeat behavior.In general, this is a market that I have no interest in shorting and it looks as if the $3,000 level has offered a massive amount of support, and it is now the floor in the market. The $4,100 level above was the recent high, and I do think that we get there given enough time. All things being equal, this is a market that I think you continue to look at dips as opportunity. The Ethereum market will continue to follow Bitcoin overall, as it is the main driver as to where a lot of cryptocurrencies go overall. 
Central bank easing will be the main story over the bulk of the year, and as a result, this is a situation where it is simply a play on more demand for the backbone of the crypto markets and ecosystems. As there is a rush into the cryptosphere, Ethereum is a natural winner overall. I have no interest in shorting this market at the moment. More By This Author:Silver Forex Signal: Bullish Ahead Of FedGBP/CHF Forex Signal: British Pound Finds Support Against Swiss FrancNasdaq 100 Forecast: Rally Signals Strength
