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ETH/USD and ETH/BTC Technical Analysis November 13 2017

newsbtc
newsbtc
1 year ago
1 min read
ethusd

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ETH/USD

Ethereum continues to chop around against the US dollar, and is currently testing the $300 level for support. It looks likely that we will find support underneath, perhaps extending as low as $280. This pullback should be thought of as a potential buying opportunity, as traders seem to be looking at building longer-term and larger positions. Overall, this should offer value for the longer-term investor.

ETH/BTC

Ethereum has rallied a bit again during the day against Bitcoin, but quite frankly there is enough resistance near the 0.0475 handle to have me thinking about shorting. At the first signs of exhaustion, I am more than willing to get short of this market and start aiming for the 0.04 level underneath. It is not until we break above the 0.05 level that I would consider buying, as Bitcoin has been so strong longer term.

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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