Hello and welcome to News BTC’s Market Outlook June 14.
The Ethereum market fell significantly during the course of the session on Tuesday, but found enough support at the $340 level below to turn things around and start rallying again. Ethereum is a bit overbought at this point, and I believe that the $400 level should be massively resistive. If we can break above there, that is a very good sign that we are going to go much higher. However, I believe that this market will need to pull back in order to go higher over the longer term.
The Ethereum market during the day on Tuesday, but there is still a lot of instability and the digital currency markets. The 0.13 level below offered support, but given enough time I believe that this market will continue to go higher. Ultimately, the market should continue to find buyers underneath, and continue to go much higher than that.
Thank you for watching and see you again tomorrow.