ETH/USD and ETH/BTC Technical Analysis November 6 2017

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Last Updated: June 11, 2024 1:20 pm

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ETH/USD

Ethereum rallied quite a bit during the day on Friday, breaking above the $292 level that I had pointed out yesterday. We touched the $300 level, and if we can break above there, the market should then go to the $312 handle, which extends to the $316 level. A break above the $316 level is a longer-term “buy-and-hold” situation, and between now and then it looks likely that short-term pullbacks will be buying opportunities.

ETH/BTC

Ethereum rallied a bit against Bitcoin, as we have seen a little bit of life in this general vicinity. The 0.042 level has acted as resistance, and at the first sign of exhaustion I’m more than willing to sell. It’s not that I don’t like Ethereum, it’s just that Bitcoin has been exploding to the upside for some time. Wait for a roll over, and start selling again.

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