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ETH/USD and ETH/BTC Technical Analysis May 10, 2017

newsbtc
newsbtc
1 year ago
1 min read
ethbtc

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Hello and welcome to News BTC’s Market Outlook May 10.

ETH/USD

Ethereum fell against the US dollar during Tuesday trading, testing the $80 handle. This has been a nice pullback and it looks as if the buyers are starting to come back into the market as expected. I believe that the $75 level will be supportive as well, so I’m looking for a bounce or some type a supportive candle on short-term charts to get back into the uptrend and start buying again.

ETH/BTC

Ethereum fell against Bitcoin, but formed a very similar candle. It looks as if the 0.04 level will continue to offer support barrier, as we bounced from just above there. I believe that this market is going to go higher, so buying the bounce is how I am playing Ethereum against Bitcoin.

Thanks for watching and see you again tomorrow.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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