Hello and welcome to News BTC’s Market Outlook April 25.
Ethereum tried to rally during the day on Monday, but struggled to hang on to gains. Because of this, it looks as if the $55 level will continue to be an issue. A breakdown below the bottom of the range for the day could send Ethereum down to the $52 handle, perhaps even the $50 level. A break above the top of the candle for the session on Monday should have this market looking for the $58 level above.
Ethereum gained slightly against Bitcoin, but you can see we have had a very tight market as of late. With the recent surge higher, I still must believe that the market is going to favor the upside, although it is obviously going to be more of a grind than anything else. Short-term pullbacks could be buying opportunities, as the market looks set to reach towards the 0.04500 level above, and perhaps higher than that. Nonetheless, this will be a grind more than anything else.
Thanks for watching and see you again tomorrow.