ETH/USD and ETH/BTC Technical Analysis June 30, 2017

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Hello and welcome to News BTC’s Market Outlook June 30.

ETH/USD

Ethereum fell during Thursday trading, testing the $280 level. We did find a little bit of support there, which makes a lot of sense considering that we had formed a couple of hammers earlier in the week. With this being the case, it’s likely that the buyers will be attracted to the $280 level going forward. Ultimately, the buyers should return and push this market to the upside regardless, so look at dips as buying opportunities.

ETH/BTC

Ethereum also fell against Bitcoin, but formed a hammer like candle which seems to be showing support below the 0.12 handle. Because of this, a break above the top of the hammer since this market looking for the 0.13 level, and then the 0.14 level. Ultimately, the market looks likely to retest the 0.15 level at the top but it might be choppy between here and there. Buying on the dips continues to be the best way to play this market.

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