ETH/USD and ETH/BTC Technical Analysis December 1 2017

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

ETH/USD

Ethereum has fallen rather significantly against the US dollar, partially in a “knock on” move from the brutal selloff in Bitcoin. Ethereum has lost $100 in the last 24 hours, and of course that is a very significant selloff. It currently looks as if we are going to test the $400 level underneath. The $400 level of course is a psychologically important area, and previous support. If we were to break down below there, is very likely that Ethereum will continue to go lower, perhaps to the $360 level.

ETH/BTC

Ethereum sold off against Bitcoin as well, as we are testing the lows yet again. It looks likely that we are going to go looking towards the 0.04 level over the next couple of days, with the 0.045 level being a bit of a ceiling. Selling the rallies continues to be the profitable trade.

Thanks for watching, I’ll be back tomorrow.