ETH/USD and ETH/BTC Technical Analysis August 22, 2017

Hello and welcome to News BTC’s Market Outlook Aug 22.

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ETH/USD

Ethereum exploded to the upside during the session on Monday, clearing the resistance level at the $312 level, and reached towards the $345 level. The market is up over 15% as I write this, so if you’re not in now, you would be wise to wait for some type of pullback. Obviously, there is a lot of bullish pressure here, and I think that we should find support near the $320 level below on the pullback.

ETH/BTC

Ethereum exploded against Bitcoin as well, and even pulled back to find support at the 0.078 level. I think that level is now support on pullbacks that you can take advantage of, and chasing the trade at this point I believe is dangerous. These moves typically have massive pullbacks given enough time, and waiting on that could be very profitable.

Thanks for watching, I’ll 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.

Source: Newsbtc

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