Hello and welcome to News BTC’s Market Outlook November.
ETH/USD
Ethereum continues to chop around in a slow upward grind against the US dollar, as we have found the $330 level to cause a bit of trouble. However, I think we will continue to see buyers underneath so it’s likely that the market continues to rally from here, perhaps offering an opportunity to get involved to the upside as we continue to reach towards the $350 level above.
ETH/BTC
Ethereum also has been rallying against Bitcoin, and looks likely to continue to do so, at least until we reach towards the 0.055 level. Pullbacks of this point should be supported at the 0.046 level, but if we break down below there, we should resume the longer-term downtrend. At best, this is a short-term buying opportunity.
Thanks for watching, I’ll be back tomorrow.