ETH/USD and ETH/BTC Technical Analysis May 15, 2017

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Last Updated: June 11, 2024 1:22 pm

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Hello and welcome to News BTC’s Market Outlook May 15.

ETH/USD

Ethereum markets rallied during the day on Friday, as we continue to see support just below at $85. Longer-term traders are certainly building up a position in this area, and I believe that the market is attracted to the $100 level. Ultimately, every time we pull back I think it’s a buying opportunity as the market shows signs of bullish pressure underneath.

ETH/BTC

The Ethereum market rallied a bit during the day on Friday, breaking above the 0.05 level at one point. If we can break above the top of the candle, I believe that the market will then go looking for the 0.06 level above. Either way, I don’t have any interest in selling, and I believe there’s plenty of support below that will continue to attract buyers.

Thanks for watching and see you again tomorrow.

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