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ETH/USD and ETH/BTC Technical Analysis November 9 2017

newsbtc
newsbtc
1 year ago
1 min read
ethusd

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ETH/USD

Ethereum has bounced a bit during the trading session on Wednesday, using the $290 level as a springboard. It now looks as if were going to try to reach towards the 310 region again, but it’s not until we break above the $316 level that I feel the market is free to go higher. In the meantime, I like buying dips and adding to my position as I believe we are trying to form a larger base to go higher on the longer-term charts. I have no interest in shorting.

ETH/BTC

With Bitcoin near all-time highs again, and makes sense that this market continues to drift lower. We are starting to get into the oversold part of the stochastic oscillator though, so a small bounce could be imminent. That being said, that small bounce should end up being a nice selling opportunity going forward.

Thanks for watching, I’ll be back 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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