ETH/USD and ETH/BTC Technical Analysis Aug 1, 2017

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Hello and welcome to News BTC’s Market Outlook Aug 1.

ETH/USD

Ethereum fell slightly during the day on Monday, as we continue to bounce around just below the $200 level. It looks likely that the $175 level underneath will continue to be support though, so I would expect a short-term bounce. He either way, I suspect that is probably best to stay out of the market currently.

ETH/BTC

Ethereum continues to slide against Bitcoin, and it looks very likely to go looking towards the 0.06 level now. Short-term rallies are probably selling opportunities, less of course we can break above the 0.08 level above. If we do, then it becomes a very bullish market but currently it looks as if we have a slightly negative attitude.

Thanks for watching, we’ll see you again tomorrow.