Hello and welcome to News BTC’s Market Outlook April 25.
ETH/USD
Ethereum tried to rally during the day on Monday, but struggled to hang on to gains. Because of this, it looks as if the $55 level will continue to be an issue. A breakdown below the bottom of the range for the day could send Ethereum down to the $52 handle, perhaps even the $50 level. A break above the top of the candle for the session on Monday should have this market looking for the $58 level above.
ETH/BTC
Ethereum gained slightly against Bitcoin, but you can see we have had a very tight market as of late. With the recent surge higher, I still must believe that the market is going to favor the upside, although it is obviously going to be more of a grind than anything else. Short-term pullbacks could be buying opportunities, as the market looks set to reach towards the 0.04500 level above, and perhaps higher than that. Nonetheless, this will be a grind more than anything else.
Thanks for watching and see you again tomorrow.