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Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30
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Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30

ETH/USD and ETH/BTC Technical Analysis May 16, 2017

newsbtc
newsbtc
1 year ago
1 min read
ethusd

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Hello and welcome to News BTC’s Market Outlook May 16.

ETH/USD

Ethereum rallied significantly against the US dollar, gaining 5% initially on Monday. As we are reaching towards the $95 level, it seems likely that we will continue to go much higher. I believe the pullbacks continue to be opportunities for longer-term positions to be built, as the $90 level underneath looks very supportive. I believe that support extends all the way down to at least $85 as well. I remain extraordinarily bullish.

ETH/BTC

Ethereum rally during the day on Monday, breaking higher from the 0.05 level. It now looks as if are going to go looking for the 0.06 handle, and perhaps breakout above there and continue to go even higher than that. I still believe the pullbacks are opportunities to go long of a market that is building much larger positions for a “buy-and-hold” run down the road. Selling isn’t even a thought.

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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