ETH/USD and ETH/BTC Technical Analysis June 29, 2017

Hello and welcome to News BTC’s Market Outlook June 29.

ETH/USD

Ethereum rallied on Wednesday after initially dipping. This proves the previous 2 hammers as being supportive on the daily chart, and it now looks like Ethereum is ready to go much higher. Because of this, Ethereum looks as if it is going to target $300, and then eventually $320 above there. I like buying dips on short-term charts, I believe Ethereum has much higher to go.

ETH/BTC

Ethereum initially fell during the day on Wednesday, but formed enough of a bullish candle and a bounce off of the 2 previous hammers to suggest that we are going to go to the 0.12 level, and then eventually the 0.13 handle. This is a very bullish pattern, and I believe that we are going to continue to see buying pressure.

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