ETH/USD continues to traverse in a rather tight price range early this morning, giving speculators a chance to test their short term outlooks.

ETH/USD is trading near the 1085.00 vicinity in early trading this morning.  A rather consolidated price band has emerged in Ethereum taking into consideration its rather volatile conditions which have been self-evident the past week. The 1100.00 level technically looks like a close resistance level, and in the past handful of hours ETH/USD has not been able to sustain value above this mark. On the 21^st of June ETH/USD did enjoy a solid short term reversal higher and came within sight of the 1195.00 level.

However, ETH/USD certainly remains within a troubling lower value range. Speculators looking for the potential of upside momentum will likely want to keep their ambitions relatively conservative when looking for moves higher. If the 1100.00 value can be penetrated and sustained, some technical speculators may feel that it is tempting to look for 1125.0 to 1150.00 for take profit wagers.

Short-term trading in ETH/USD remains choppy, even though it is in a rather tight price mode. The broad cryptocurrency market continues to look rather fragile, particularly as the major digital assets: Ethereum and Bitcoin fail to puncture resistance levels which could signal a shift in sentiment. Until ETH/USD breaks above the 1200.00 level and maintains this juncture, and begins to demonstrate price velocity, skeptics will likely continue to command the trading environment.

The near term remains rather negative regarding outlook for ETH/USD.  Optimists will certainly argue this point, but traders looking for more downside price action to emerge cannot be faulted. If ETH/USD were to fall below the 1055.00 mark and not bounce higher, this would be a poor signal. ETH/USD has not been below the 1040.00 value since the 19^th of June with any sincere force, but if this support level is proven vulnerable speculators may want to target the 1025.00 level and lower.

The near term is likely going to remain choppy and traders will need to remain hyper vigilant.  Take profit orders are advised for traders who do not want to find themselves holding a position which needs to be held for long durations. If ETH/USD falters in the short term and current support levels cannot hold back nervous sentiment, trading conditions could become fast and dangerous and test the fortitude of all speculators.

Ethereum Short-Term Outlook

Current Resistance: 1130.00

Current Support: 1055.00

High Target: 1176.00

Low Target: 1011.00

SOL/USD has produced choppy trading the past couple of days, and since the 2^nd of April has produced a bearish trend.

After hitting a high of nearly 143.4000 on the 2^nd of April, which tested highs not seen since the 20^th of January, SOL/USD has taken on a rather stark bearish trend. Technical traders will certainly have their perceptions tested in the short term with Solana. The ability to hit important resistance levels in early April, and then be pushed backwards with a rather stark amount of violence likely has had an effect on speculative bulls.

As of this writing, SOL/USD is near the 106.6000 mark in fast conditions. A low of nearly 98.2000 was produced on the 11^th of April and some reversals higher have been witnessed. Incrementally SOL/USD has also seen short term support levels rise. The question is if the current three day move higher can be sustained, or if it will prove to be a ‘dead cat’ bounce. The long term bearish trend of SOL/USD seemed likely to be proclaimed over in early April, but the resurgence of downward motion cannot be discounted and nervous fears may be building again.

Lows seen only a few days ago tested important support levels which did seem to hold via pricing comparisons of late March.  The current value range of SOL/USD will need to prove strong in order to attract additional buying waves, beyond the scope of mere day traders looking to capture quick hitting moves higher. The broad cryptocurrency market appears to be awash in nervous sentiment and if current support levels among Solana counterparts start to look vulnerable, this could be a poor signal for SOL/USD too.

Buying of SOL/USD certainly moved in step with the broad cryptocurrency market during its positive run from the middle of March until early April. However, the price action downward in SOL/USD has actually been more violent compared to the likes of Ethereum and Bitcoin when percentage changes to value are gauged. SOL/USD lost more than 40% of its value from early April until lows were hit on the 11^th.

If current support levels prove durable and values near the 107.0000 to 106.0000 ratios can hold back the negative tide recently displayed, this may allow speculators to believe upside potential lurks.  However before conservative traders step into SOL/USD with buying wagers, they may want to see some consolidation over the next day or so. Looking for upside when support is approached may prove to be worthwhile, but for the moment traders may want to keep their price ambitions when looking for upside action rather tame and their stop loss orders working.

Solana Short-Term Outlook

Current Resistance: 107.8700

Current Support: 105.2200

High Target: 110.3500

Low Target: 96.1000