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.