ETH/USD and ETH/BTC Technical Analysis August 22, 2017

newsbtc

Last Updated: June 11, 2024 1:22 pm

1 min read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Hello and welcome to News BTC’s Market Outlook Aug 22.

ETH/USD

Ethereum exploded to the upside during the session on Monday, clearing the resistance level at the $312 level, and reached towards the $345 level. The market is up over 15% as I write this, so if you’re not in now, you would be wise to wait for some type of pullback. Obviously, there is a lot of bullish pressure here, and I think that we should find support near the $320 level below on the pullback.

ETH/BTC

Ethereum exploded against Bitcoin as well, and even pulled back to find support at the 0.078 level. I think that level is now support on pullbacks that you can take advantage of, and chasing the trade at this point I believe is dangerous. These moves typically have massive pullbacks given enough time, and waiting on that could be very profitable.

Thanks for watching, I’ll see you again tomorrow.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.