ETH/USD and ETH/BTC Technical Analysis May 10, 2017

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Hello and welcome to News BTC’s Market Outlook May 10.

ETH/USD

Ethereum fell against the US dollar during Tuesday trading, testing the $80 handle. This has been a nice pullback and it looks as if the buyers are starting to come back into the market as expected. I believe that the $75 level will be supportive as well, so I’m looking for a bounce or some type a supportive candle on short-term charts to get back into the uptrend and start buying again.

ETH/BTC

Ethereum fell against Bitcoin, but formed a very similar candle. It looks as if the 0.04 level will continue to offer support barrier, as we bounced from just above there. I believe that this market is going to go higher, so buying the bounce is how I am playing Ethereum against Bitcoin.

Thanks for watching and see you again tomorrow.