Ethereum Analysis December 5, 2017

newsbtc | December 5, 2017 | 4:03 pm
ethusd

Ethereum Analysis December 5, 2017

newsbtc | December 5, 2017 | 4:03 pm

ETH/USD

Ethereum continues to look relatively flat against the US dollar, while at the same time Bitcoin has been rallying. Because of this, I think that we are essentially stuck in a range between $450 level on the bottom, and $500 on the top. However, on the hourly chart we are starting to see the stochastic cross in the oversold area.

 

ETH/BTC

Ethereum fell against Bitcoin as one would expect looking at how they are both acting against the US dollar during the day on Tuesday. Because of this, we have broken the 0.04 handle, a very important psychological support of level. At this point, selling rallies will probably be the best way to profit.

Thanks for watching, I’ll be back tomorrow.

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