ETH/USD and ETH/BTC Technical Analysis October 19th, 2017

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ETH/USD

Ethereum fell again on Wednesday, as we continued to drift lower. We are below the $300 level, and I think that is somewhat significant, but I believe it’s only a matter of time before the buyers come back. The $300 level of course is a large, round, psychologically significant number, so it’s possible that we start to see buyers jump back into the market. If they do, I am willing to buy this pair above the $310 level.

ETH/BTC

Oddly enough, Ethereum has held its own against Bitcoin during the last couple of sessions, as we are dancing around the 0.057 level. Because of this, I suspect that the market is ready to go sideways for some time, perhaps offering back and forth trading at best.

Thanks for watching, a be back tomorrow.