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Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans
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Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans

ETH/USD and ETH/BTC Technical Analysis April 27, 2017

newsbtc
newsbtc
1 year ago
1 min read

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Hello and welcome to News BTC’s Market Outlook April 27.

ETH/USD

Ethereum rallied against the US dollar during the Wednesday session, breaking above the $56 handle. It now looks as if the market is primed to make a fresh, new high, so short-term pullback should be buying opportunities. The uptrend should provide plenty of support near the $54 level underneath, so therefore I feel that this is a “buy only” type of market.

ETH/BTC

Ethereum continues to grind sideways against Bitcoin, hovering around the 0.04 level. The market currently looks very stagnant, so short-term buying on the dips might be about as good as this gets. Longer-term, we should continue to go higher, as we had originally seen a spike in the move. Given enough time, I think that this pair could end up reaching towards the 0.06 level above.

Thanks for watching and see you again 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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