ETH/USD and ETH/BTC Technical Analysis October 2nd 2017

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ETH/USD

Ethereum rally during the day on Friday, breaking above the $300 level. As we rolled into the weekend, we started to test the $305 level, and a move above there should send this market much higher. Until then, I believe the buying dips will continue to be the way going forward as this market has shown a significant amount of resiliency. I have a longer-term target of $312.

ETH/BTC

Ethereum held its own against but going during the session on Friday, hovering above the 0.07 level. However, the market looks essentially dead at the moment, and not ready to do much. With this in mind I stay on the sidelines, but I recognize that overall Bitcoin has shown more strength in Ethereum longer-term.

Thanks for watching, I’ll be back tomorrow.