ETH/USD and ETH/BTC Technical Analysis May 29, 2017

newsbtc

1 year ago

1 min read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Hello and welcome to News BTC’s Market Outlook May 29.

ETH/USD

Ethereum rally during the Friday session, as we continue to reach towards the 200 level. Pullbacks continue to be buying opportunities, as the market has shown a proclivity to pick up value on pullbacks. The market is a bit overbought though, so pullbacks are necessary in order to feel comfortable about going long yet again. Selling is all but impossible when it comes to Ethereum against the US dollar.

ETH/BTC

This market tends to grind sideways for long periods of time but it now looks as if a pullback is imminent. The pullback will be small though, as the 0.06 level should be supportive. Alternately, if we can break above the recent highs, that would be a buying opportunity but I believe that the pullback is more likely than not, especially looking at Ethereum against other currencies.

Thanks for watching and see you again tomorrow.

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.