ETH/USD and ETH/BTC Technical Analysis August 31, 2017

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Hello and welcome to News BTC’s Market Outlook Aug 31.

ETH/USD

Ethereum had a volatile session during the day on Wednesday, but ultimately found plenty of buyers. The $365 level underneath has offered plenty of support, and it looks likely that the market continues to find buyers in that area, perhaps reaching towards the $400 level beyond that. Ultimately, this is a market that is “buy only”, and I think it should continue to be the case.

ETH/BTC

Ethereum rallied initially during the day against Bitcoin as well, but then pulled back to the 0.082 level. This is a market that should continue to find buyers on dips, and I think that we are going to see Ethereum catch up to other crypto currencies over the next several sessions.

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