ETH/USD and ETH/BTC Technical Analysis June 2, 2017

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Hello and welcome to News BTC’s Market Outlook June 2.

ETH/USD

Ethereum markets rallied slightly during the session on Thursday, as we continue to hover near the $220 handle. The market looks poised to go higher, but we may need to consolidate in the short term in order to build up enough momentum to do so. The $200 level below should begin a significant amount of support.

ETH/BTC

Ethereum fell during the day against Bitcoin, as we are looking to find support below. I suspect that it’s probably somewhere near the 0.0850 level, and on signs of a bounce or supportive candle, I also suspect that there will be buyers jumping into the marketplace to take advantage of what has obviously been a very strong uptrend. I have no interest in selling.

Thanks for watching and I’ll see you again tomorrow.