News BTC Ethereum Analysis December 5, 2017

newsbtc | December 4, 2017 | 3:32 pm

News BTC Ethereum Analysis December 5, 2017

newsbtc | December 4, 2017 | 3:32 pm

ETH/USD

 

Ethereum has been a bit negative during the Monday trading session, but it appears that the $450 level should offer a bit of psychological support, extending down to at least the $420 level. Because of this, it’s likely that we will find a “buy on the dips” mentality, and therefore I am watching the stochastic oscillator underneath for a cross near the 20 level.

ETH/BTC

 

Ethereum continues to be a bit oversold against Bitcoin, but quite frankly neither currency looks overly bullish in the short term. If I had the place a trade, it would almost certainly be to the upside, as we are approaching significant support. However, I think that any upside momentum at this point is limited.

Thanks for watching, I’ll be back tomorrow.

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