Hello and welcome to News BTC’s Market Outlook July 31.
ETH/USD
Ethereum markets fell slightly against the US dollar on Friday, slicing through the $200 level. It now looks as if we are going to pull back a bit further, and I anticipate that we should see support near the $180 level, and most certainly near the $160 level. Alternately, if we break above the highs from the Wednesday session, that could send this market looking towards the $240 level.
ETH/BTC
As this market has essentially been “dead money” over the last week, it’s not surprising that we broke down a bit. We are now just below the 0.07 level, and it looks likely that we will probably drift towards the 0.06 handle where I would expect to see more support. In the meantime, it looks like Bitcoin is preferred over Ethereum.
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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