ETH/USD and ETH/BTC Technical Analysis November 8 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.

ETH/USD

Ethereum took a beating during the trading session on Tuesday, slicing down below the $290 level. It’s likely that the market continues to go much lower, towards the bottom of the overall consolidation area. The $272 level underneath continues to be very supportive though, and I think that we could find a buying opportunity at these lower levels. I would be a buyer on some type of bounce in that area, or an hourly close above $290.

ETH/BTC

Ethereum continues to grind sideways against Bitcoin, but quite frankly I think we continue to see the downtrend overall. We have recently had a crossover on the 4-hour chart stochastics, and therefore think we will go looking to lower levels. A small short position can be initiated, if we stay below the 0.045 handle.

Thank you for watching, I’ll be back 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.