ETH/USD and ETH/BTC Technical Analysis November 2 2017

newsbtc

Last Updated: June 11, 2024 1:22 pm

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.

ETH/USD

Ethereum continues to be very noisy, but most importantly consolidated of. It looks to me as if there is significant support just below at the $292 level, and if we can get that low, I am more than willing to start buying. A break above the $316 level continues to be what I need to see to go long of this market for a bigger move, but in the meantime buying little bits and pieces on short-term pullbacks could be a nice buying opportunity to build up a much larger position than usual.

ETH/BTC

With Bitcoin making all-time highs against the US dollar, it’s not a huge surprise that this market continues to drop from here. I think that the 0.047 level should now offer resistance, so on short-term rallies, and exhaustive candles, I am more than willing to start selling, as the downtrend is so firmly ensconced.

Thanks for watching, I will be back 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.