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ETH/USD and ETH/BTC Technical Analysis July 21, 2017

newsbtc
newsbtc
1 year ago
1 min read

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Hello and welcome to News BTC’s Market Outlook July 21.

ETH/USD

Ethereum rallied against the US dollar during the session on Thursday, testing the $240 level. I believe that we need to close on a daily chart above the $250 level to start buying again, as I would show significant support. In the meantime, I anticipate that we will probably grind sideways overall, as we are trying to form a bit of a base in the Ethereum markets.

ETH/BTC

Ethereum tried to rally against Bitcoin, but failed. We ended up forming a very bearish looking candle, and I think that we are going to continue to grind sideways with significant support at the 0.08 level. Because of this, I believe is probably best be on the sidelines in this market, at least until we get some type of impulsive candle telling us which direction is more likely to be supported.

Thanks for watching, I’ll see you again Monday.

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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.

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