ETH/USD and ETH/BTC Technical Analysis April 26, 2017

By Guest Author Apr 26, 2017 2:16 AM EST

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Hello and welcome to News BTC’s Market Outlook April 26.
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ETH/USD

Ethereum had a very quiet session on Tuesday as we continue to hover just above the $53.50 level. We are at the top of a recent move, so it shows that we could get a bit of resistance. I also can make an argument for an ascending triangle on this chart, and it measures for a massive move to the $75 area. That doesn’t mean it’s going to happen overnight, but it certainly seems as if the buyers are still very much in control this market, albeit at a slow pace.

ETH/BTC

Ethereum continues to grind sideways against Bitcoin at roughly the 0.04 level. Currently, short-term scalping back and forth type of action is probably about as good as it gets. However, since we are at such low levels, selling is all but impossible. Short-term buying opportunities will continue to present themselves on the short dips in this market.

Thanks 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.

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