Hello and welcome to News BTC’s Market Outlook April 24.
Ethereum pulled back slightly against the US dollar on Friday, as we continue to consolidate between the $50 level on the bottom, and the $53 level on the top. Because of this, short-term pullbacks continue to offer buying opportunities as the market seems relatively tight. Longer-term, I still believe that Ethereum pics of value against the US dollar breaks out to the upside.
Ethereum fell slightly against Bitcoin during the session, and has been consolidating for some time. Because of this, I have the 4-hour chart in front of you and you can see that we clearly have a range between 0.035 on the bottom, and 0.043 on the top. Currently, we find ourselves in the middle of the range, so it’s probably best to wait for pullbacks in order to go long as the market doesn’t have much farther to go to the downside. Because of this, I am mildly bullish but recognize patients will be needed.
Thanks for watching and see you again tomorrow.