Hello and welcome to News BTC’s Market Outlook May 26.
Ethereum continues to skyrocket against the US dollar, breaking the $200 level. However, although this is a very bullish sign if you are not already long of this market, you are best served to wait for some type of pull back. This is because when we do get a pullback, it will be brutal as parabolic markets tend selloff rather quickly. Nonetheless, selling is all but an impossibility.
Ethereum did very little during the session on Thursday against Bitcoin as the 0.08 level offers plenty of resistance. Because of this, I’m looking for pullbacks to pick up value in a market that looks bullish, but maybe not as bullish as the ETH/USD pair. After all, crypto currencies in general are doing well, so measuring one against another will be a bit more difficult.
Thanks for watching and see you again on Monday.