ETH/USD and ETH/BTC Technical Analysis August 30, 2017

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Hello and welcome to News BTC’s Market Outlook Aug 30.

ETH/USD

Ethereum rallied a bit during the day yet again on Tuesday, as the market has decidedly been anti-US dollar. This being the case, I think Ethereum can continue to go much higher, and I believe that the “floor” is closer to the $335 level, if not the $350 level. Buying on dips continues to be the best way to play this market.

ETH/BTC

Alternately, Ethereum is getting absolutely hammered against Bitcoin, which seems to be the clear winner in the crypto currency world currently. This being the case, I think were to go looking for support near the 0.07 level underneath, but I would be very cautious about buying. Quite frankly, if you’re going to buy Ethereum, go against the US dollar.

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