Hello and welcome to News BTC’s Market Outlook April 27.
Ethereum rallied against the US dollar during the Wednesday session, breaking above the $56 handle. It now looks as if the market is primed to make a fresh, new high, so short-term pullback should be buying opportunities. The uptrend should provide plenty of support near the $54 level underneath, so therefore I feel that this is a “buy only” type of market.
Ethereum continues to grind sideways against Bitcoin, hovering around the 0.04 level. The market currently looks very stagnant, so short-term buying on the dips might be about as good as this gets. Longer-term, we should continue to go higher, as we had originally seen a spike in the move. Given enough time, I think that this pair could end up reaching towards the 0.06 level above.
Thanks for watching and see you again tomorrow.