ETH/USD and ETH/BTC Technical Analysis August 30, 2017

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ethusd8

Hello and welcome to News BTC’s Market Outlook Aug 30.

ETH/USD

 

Ethereum rallied a bit during the day yet again on Tuesday, as the market has decidedly been anti-US dollar. This being the case, I think Ethereum can continue to go much higher, and I believe that the “floor” is closer to the $335 level, if not the $350 level. Buying on dips continues to be the best way to play this market.

 

ETH/BTC

Alternately, Ethereum is getting absolutely hammered against Bitcoin, which seems to be the clear winner in the crypto currency world currently. This being the case, I think were to go looking for support near the 0.07 level underneath, but I would be very cautious about buying. Quite frankly, if you’re going to buy Ethereum, go against the US dollar.

Thanks for watching, we’ll see you again tomorrow.

 

Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment/trading advice. All the information is believed to come from reliable sources. NewsBTC does not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be liable for any loss incurred.

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