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Hello and welcome to News BTC’s Market Outlook November.
Ethereum broke through the $350 level over the weekend, and has since come back to retest that area several times. $350 is now looking to offer support, and therefore I think that we are ready to go back towards the $375 level over the short term. Expect massive support below at the $340 level as well.
With Bitcoin reaching all-time highs over the weekend, it’s not much of a surprise that this pair has drifted a little lower. At this point, I would be a bit cautious about buying, as the upside seems to be capped near the 0.048 region. However, Ethereum look strong enough to keep me from selling currently.
Thanks for watching, I’ll be back tomorrow.