Hello and welcome to News BTC’s Market Outlook April 26.
ETH/USD
Ethereum had a very quiet session on Tuesday as we continue to hover just above the $53.50 level. We are at the top of a recent move, so it shows that we could get a bit of resistance. I also can make an argument for an ascending triangle on this chart, and it measures for a massive move to the $75 area. That doesn’t mean it’s going to happen overnight, but it certainly seems as if the buyers are still very much in control this market, albeit at a slow pace.
ETH/BTC
Ethereum continues to grind sideways against Bitcoin at roughly the 0.04 level. Currently, short-term scalping back and forth type of action is probably about as good as it gets. However, since we are at such low levels, selling is all but impossible. Short-term buying opportunities will continue to present themselves on the short dips in this market.
Thanks for watching and see you again tomorrow.