ETH/USD and ETH/BTC Technical Analysis June 6, 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 June 6.

ETH/USD

Ethereum initially fell on Monday, but turned around at the $230 level to form a bit of a hammer. It looks as if the bullish momentum continues to go higher, and therefore dips continue to be buying opportunities. We believe that the $200 level is going to serve as a bit of a “floor” in the current uptrend. Having said that, be aware that we are most certainly overbought at this point.

ETH/BTC

Ethereum fell slightly against Bitcoin, but obviously is still very bullish. The 0.085000 level just below should offer support, and therefore supportive candles or bounces from that general vicinity will more than likely be looked at as buying opportunities in what appears to be a one-way trade currently.

They for watching, I’ll see you 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.