ETH/USD and ETH/BTC Technical Analysis May 09, 2017

Hello and welcome to News BTC’s Market Outlook May 09.

ETH/USD

Ethereum fell a bit during the Monday trading session as we reached towards the $90 handle. This is an area that should cause quite a bit of support though, and we did bounce from that level so I think we are currently accumulating position size in order to go towards the $100 level again. Buying short-term dips will more than likely offer decent trading opportunities. A break above the $100 level of course is very bullish.

ETH/BTC

Ethereum fell against Bitcoin, but continues to find support below. This time, it was the 0.055 level that saw a bit of buying pressure, as we gradually rise over time. I believe that buying dips continues to be the way going forward, but think of this more as an investment, and less as a trade. Going forward, I expect the market to reach too much higher levels.

Thanks for watching and see you again tomorrow.

Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment/trading advice. All the information is believed to come from reliable sources. NewsBTC

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