Hello and welcome to News BTC’s Market Outlook Aug 31.
ETH/USD
Ethereum had a volatile session during the day on Wednesday, but ultimately found plenty of buyers. The $365 level underneath has offered plenty of support, and it looks likely that the market continues to find buyers in that area, perhaps reaching towards the $400 level beyond that. Ultimately, this is a market that is “buy only”, and I think it should continue to be the case.
ETH/BTC
Ethereum rallied initially during the day against Bitcoin as well, but then pulled back to the 0.082 level. This is a market that should continue to find buyers on dips, and I think that we are going to see Ethereum catch up to other crypto currencies over the next several sessions.
Thank you for watching, I’ll 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 does not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be liable for any loss incurred.
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