Hello and welcome to News BTC’s Market Outlook June 20.
ETH/USD
The Etherium market struggled during the day on Monday, as the $360 level was to resistive. We initially rallied, but the market continues to look very heavy, and the market is more than likely going to go looking for the $300 level below. We have needed to pullback for some time, because the market has been far too overbought, and as a result some cooling-off is necessary.
ETH/BTC
Etherium struggled a bit against Bitcoin, as we continue to hover around the 0.14 level. The market needs to find support underneath, as the market has been overbought for a while. Ultimately, the market should then go to the 0.15 level, where there has been resistance in the past. To break above there should send this market much higher, but I think the pullback is necessary as the market has been parabolic.
Thank you for watching, I’ll see you again tomorrow.