ETH/USD and ETH/BTC Technical Analysis September 1 2017

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

ETH/USD

Ethereum went sideways most of the session on Thursday, but found enough buying pressure near the $380 level to turn around and rally. I believe that the market is going to continue to go higher, probably looking for the psychologically significant $400 level. That area could cause a little bit of resistance, but I think it will be short-term at best. Given enough time, I believe that the markets will continue to favor buying, and dips should offer value.

ETH/BTC

Ethereum fell against Bitcoin as it has been a strong performer during the day. I still believe that although Ethereum is a strong performer against the US dollar, against Bitcoin itself it’s going to struggle overall. I believe that the market will continue to underperform although it could be very bullish.

Thanks for watching, I’ll be back Monday.