Hello and welcome to News BTC’s Market Outlook April 21.
After a significant selloff late in the evening, Ethereum has gained back most of the losses to hover around the $50.65 level. Currently, looks as if the market is consolidating to build up a bullish pressure and head towards the $52 level again. A break above there sends the market looking for $53, and then higher levels. Currently, pullbacks look well supported below, especially near the $49.50 level.
Ethereum sold off against Bitcoin as well but also has rallied a bit. We are currently hovering around $0.04, and forming an asymmetrical triangle. Because of this, looks as if bullish pressure may be building and a break above the $0.0402 level should send this market much higher. Currently, with these low valuations it’s difficult to start selling so I am more inclined to look at the upside.
Thank you for watching and 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.