ETH/USD and ETH/BTC Technical Analysis May 22, 2017

newsbtc

Last Updated: June 11, 2024 1:22 pm

1 min read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Hello and welcome to News BTC’s Market Outlook May 22.

ETH/USD

Ethereum exploded against the US dollar on Friday, finally clearing the psychologically important $100 level. We’ve shot straight up since then, so unless you are already involved and have taken our analysis in the past seriously, you will more than likely need to wait for some type of pullback. The psychologically important $100 level should now be support though, so it looks as if this market will continue the longer-term uptrend.

ETH/BTC

Ethereum also skyrocketed against Bitcoin but still has the 0.06 level to contend with. If we can break above there, the market should continue to go much higher. In the meantime, we are still in consolidation, but certainly looking more bullish than bearish. Pullbacks continue to offer opportunities to build up a larger position.

Thanks for watching and see you again tomorrow.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.