ETH/USD and ETH/BTC Technical Analysis November 9 2017



Ethereum has bounced a bit during the trading session on Wednesday, using the $290 level as a springboard. It now looks as if were going to try to reach towards the 310 region again, but it’s not until we break above the $316 level that I feel the market is free to go higher. In the meantime, I like buying dips and adding to my position as I believe we are trying to form a larger base to go higher on the longer-term charts. I have no interest in shorting.


With Bitcoin near all-time highs again, and makes sense that this market continues to drift lower. We are starting to get into the oversold part of the stochastic oscillator though, so a small bounce could be imminent. That being said, that small bounce should end up being a nice selling opportunity going forward.

Thanks for watching, I’ll be back 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.