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

newsbtc
newsbtc
1 year ago
1 min read

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

ETH/USD

Ethereum rally during the day on Tuesday, using the $200 level as support. It now looks as if we are trying to break above the $225 level, and once we do we should continue towards the $250 level. There is a lot of noise between here and there though, so don’t be surprised if it’s choppy trading action. Short-term pullback should offer buying opportunities.

ETH/BTC

Ethereum finally got a lift against Bitcoin as well, as we have use the 0.07 level as support. We are now at the 0.08 level, which should be slightly resistive. Between here and the 0.10 level, it should be rather noisy. If you are going to trade Ethereum, you are probably better served trading in against the US dollar.

Thanks for watching, we’ll see you again tomorrow.

 

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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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