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ETH/USD and ETH/BTC Technical Analysis October 30 2017

newsbtc
newsbtc
1 year ago
1 min read
ethusd

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ETH/USD

Ethereum continues to struggle a bit, dropping down towards the $290 level during the day on Friday. However, I think there’s plenty of support just below, so it’s probably only a matter of time for the break out. If we can break above the $300 level, that’s a nice buying opportunity as the market would show improving momentum at that point. I think we would go to the $312 level above, and then the $316 level. A breakdown below the $288 level probably has this market looking for $280.

ETH/BTC

Ethereum did rally a bit against Bitcoin during the day, but we are starting to see selling pressure at the 0.052 level. I think that we continue the downtrend overall, and therefore I am a seller before anything else, although I think it’s probably easier to play both currencies independent of each other and against the US dollar.

Thanks for watching, I’ll be back 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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