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ETH/USD and ETH/BTC Technical Analysis April 27, 2017

By Christopher Lewis Apr 27, 2017 1:35 AM EDT

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Hello and welcome to News BTC’s Market Outlook April 27.
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ETH/USD

Ethereum rallied against the US dollar during the Wednesday session, breaking above the $56 handle. It now looks as if the market is primed to make a fresh, new high, so short-term pullback should be buying opportunities. The uptrend should provide plenty of support near the $54 level underneath, so therefore I feel that this is a “buy only” type of market.

ETH/BTC

Ethereum continues to grind sideways against Bitcoin, hovering around the 0.04 level. The market currently looks very stagnant, so short-term buying on the dips might be about as good as this gets. Longer-term, we should continue to go higher, as we had originally seen a spike in the move. Given enough time, I think that this pair could end up reaching towards the 0.06 level above.

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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