ETH/USD and ETH/BTC Technical Analysis May 19, 2017

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Hello and welcome to News BTC’s Market Outlook May 19.

ETH/USD

The Ethereum market rallied during the day on Thursday, reaching towards the $100 level. This is a market that continues to find plenty of support just below, and I believe that it is only a matter of time before we not only reach the $100 level, but breakout to the upside and continue to going much higher than that. I believe that the $85 level is going to continue to offer significant support. Ultimately, I have no interest in selling.

ETH/BTC

Ethereum also rallied against bit coin, but we are currently consolidating in general, and that being the case it looks as if we are still trying to build up a position to the upside. If we can break above the 0.06 handle, the market should continue to go much higher. At that point, the market should then continue the longer-term move higher, but in the meantime it’s probably best to build up the position and short and small increments.

Thanks for watching and see you again on Monday