Analysis

ETH/USD and ETH/BTC Technical Analysis November 30 2017

Christopher Lewis | November 30, 2017 | 8:30 am
ethusd
Analysis

ETH/USD and ETH/BTC Technical Analysis November 30 2017

Christopher Lewis | November 30, 2017 | 8:30 am

Hello and welcome to News BTC’s Market Outlook November.

ETH/USD

ethusd

Ethereum broke out during the trading session on Wednesday, clearing the $500 level. It now looks as if we are going to continue to find buyers in the Ethereum market on dips, and we should continue to go much higher. Given enough time, I believe that Ethereum will go looking towards the $550 level as the next logical round number. However, on the hourly chart we are crossing in the overbought part of the stochastic oscillator, and that of course suggest perhaps the pullback is coming before we move higher. Nonetheless, I remain bullish.

ETH/BTC

ethbtc

Ethereum also rallied against Bitcoin, but with Bitcoin skyrocketing over $1000 in the last 24 hours, it’s a most impossible to imagine going long against it. Because of this, I suspect that the 0.48 level is going to offer significant resistance, and we may very well pull back in the short term.

Thanks for watching, I’ll be back tomorrow.

Tags: , ,

NewsBTC is a news service that covers bitcoin news, technical analysis & forecasts for bitcoin and other altcoins. Here at NewsBTC, we are dedicated to enlightening people all around the world about bitcoin and other cryptocurrencies. We cover news related to bitcoin exchanges, bitcoin mining and price forecasts for various virtual currencies.

Get the app

Featuring live charts, price analysis, breaking news, currency converter and more. The only bitcoin app you need!

Google play logo

We use cookies to give you the best online experience. By agreeing you accept the use of cookies in accordance with our cookie policy.