Hello and welcome to News BTC’s Market Outlook July 27.
Ethereum fell initially during the session on Wednesday but found enough support underneath the $200 level to find buyers. We turned around, and it looks as if we are ready to continue the consolidation just above the $200 level, so more than likely we will see this market looking towards the $225 level in the short term.
Ethereum continues to grind sideways against Bitcoin, using the 0.08 level as support. Because of this, although I think the market could very well rally from here, I am staying away as there is no momentum. Currently this appears to be “dead money.”
Thanks for watching, we’ll see you again tomorrow.