ethusd

ETH/USD and ETH/BTC Technical Analysis November 2 2017

Avatar newsbtc 2 years ago

ETH/USD

Ethereum continues to be very noisy, but most importantly consolidated of. It looks to me as if there is significant support just below at the $292 level, and if we can get that low, I am more than willing to start buying. A break above the $316 level continues to be what I need to see to go long of this market for a bigger move, but in the meantime buying little bits and pieces on short-term pullbacks could be a nice buying opportunity to build up a much larger position than usual.

ETH/BTC

With Bitcoin making all-time highs against the US dollar, it’s not a huge surprise that this market continues to drop from here. I think that the 0.047 level should now offer resistance, so on short-term rallies, and exhaustive candles, I am more than willing to start selling, as the downtrend is so firmly ensconced.

Thanks for watching, I will be back tomorrow.

Tags: BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Nexo

Instant Crypto Credit Lines™ from only 5.9% APR - unlock your crypto-wealth tax-efficiently, without selling it. Earn up to 8% interest per year on your Stablecoins, USD, EUR & GBP. $100 million custodial insurance.

Ad
Show comments