ETH/USD and ETH/BTC Technical Analysis May 31, 2017

Hello and welcome to News BTC’s Market Outlook May 31.[embedded content]

ETH/USD

The Ethereum market broke higher during the day on Tuesday, clearing the $200 level. Because of this, looks as we continue to be a “buy on the dips” type of mentality, and this continues to be the way I look at this market. I believe that the $180 level now offers a significant amount of support in the market that continues to show bullish pressure.

ETH/BTC

Ethereum even managed to break out to a fresh, new high against Bitcoin, showing that the market is trying to reach towards the 0.10 level above. Once we break above there, the market could continue to go much higher. Pullbacks of this point continue to be buying opportunities and the 0.08 level should now act as major support.

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Source: Newsbtc