ETH/USD and ETH/BTC Technical Analysis July 6, 2017

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Hello and welcome to News BTC’s Market Outlook July 6.

ETH/USD

The Ethereum market fell slightly during the session on Wednesday, breaking below the 260 level. However, there is enough support underneath that the $240 level to keep the market afloat as far as I can see, so I believe that buying small positions will probably be the best way to go going forward. Eventually, I expect to see Ethereum break above the $300 level, and continue to go much higher. I look at this is an accumulation phase.

ETH/BTC

Ethereum went back and forth during the session on Wednesday, hovering just above the 0.10 level. A bounce from here makes a lot of sense, and I believe that we will eventually start going back to the 0.1250 level. The market is in an uptrend, and as a result I believe that it’s only a matter of time before we go much higher.

Thanks for watching, we’ll see you again tomorrow.