ETH/USD and ETH/BTC Technical Analysis Aug 3, 2017

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Hello and welcome to News BTC’s Market Outlook Aug 3.

ETH/USD

The Ethereum market fell slightly during the day on Wednesday, as the $235 level offered a bit of resistance. This looks like a market that is going to go looking for support underneath, and should find it near the $200 level. Because of this, pull backs should continue to offer buying opportunities during the day.

ETH/BTC

Ethereum also fell against Bitcoin during the day, as it looks like we are set to start consolidating again. I think the 0.07 level should be supportive, and therefore I’m looking to buy this market somewhere near there on a bounce or a supportive candle. Alternately, if we break down below there I would expect to see support at the 0.06 handle.

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