ETH/USD and ETH/BTC Technical Analysis October 27 2017

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ETH/USD

Ethereum markets continue to go sideways, but when I look at the longer-term move on the 4 hour chart, it’s likely that the overall bottoming pattern should persist. And if we can get enough momentum to reach towards the upside and break above the $316 level, the market should continue to go towards the $350 level above. In the meantime, I think short-term dips offer short-term buying opportunities in a market that looks very likely to try to go higher.

ETH/BTC

Ethereum fell against Bitcoin again, and it now looks as if the overall downtrend continues. The 0.048 level underneath should continue to be a target, and a breakdown below there has this market even lower, as this market continues to be one that continues to offer selling opportunities on rallies. It’s not that I don’t like Ethereum, it’s just that everybody likes Bitcoin.

Thanks for watching, will be back on Monday.