ETH/USD and ETH/BTC Technical Analysis July 13, 2017

Hello and welcome to News BTC’s Market Outlook July 13.

ETH/USD

Ethereum fell a bit during the day at the open on Wednesday, but found enough support at the $180 level to turn around and reach towards the $200 level. Quite frankly, if we break above the $220 level, it could be a buying opportunity, but until then, I would be very hesitant to put money to work in a market that looks very broken.

ETH/BTC

The ETH/BTC pair fell initially during Wednesday, but found the 0.08 level supportive enough to turn the market around. If we can break above the 0.09 level, the market should then go to the 0.10 handle after that. Otherwise, there is massive support just below, so although I’m not in a rush to buy this pair, I don’t think selling is the right thing to do as you will be “chasing the trade.”

Thanks for watching, we’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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