ETH/USD and ETH/BTC Technical Analysis April 21, 2017

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Hello and welcome to News BTC’s Market Outlook April 21.

ETH/USD

After a significant selloff late in the evening, Ethereum has gained back most of the losses to hover around the $50.65 level. Currently, looks as if the market is consolidating to build up a bullish pressure and head towards the $52 level again. A break above there sends the market looking for $53, and then higher levels. Currently, pullbacks look well supported below, especially near the $49.50 level.

ETH/BTC

Ethereum sold off against Bitcoin as well but also has rallied a bit. We are currently hovering around $0.04, and forming an asymmetrical triangle. Because of this, looks as if bullish pressure may be building and a break above the $0.0402 level should send this market much higher. Currently, with these low valuations it’s difficult to start selling so I am more inclined to look at the upside.

Thank you for watching and see you again tomorrow.