ETH/USD has been able to reverse higher off of extreme lows which were displayed this Saturday, but speculators should remain braced for more volatile conditions.

ETH/USD is trading near 1135.00 as of this writing.  Speculators can double check current prices to monitor the movement Ethereum has demonstrated compared to this article as a way to judge momentum within ETH/USD. After hitting a low of nearly 880.00 this past Saturday, ETH/USD has been able to produce upwards momentum. However, traders who have been attuned to Ethereum over the long term know that a bearish trajectory remains troubling.

If ETH/USD can maintain its current price above the 1100.00 in the short term, that could create the prospect for very speculative bets on upside prospects. However any trader who dares to look for higher movement from ETH/USD will not only have to be brave, but they will need to be using their entire gauntlet of risk taking tactics. Trading in Ethereum today and near term should include entry price, stop loss and take profits orders. Simply put the possibility of ETH/USD suddenly becoming volatile is rather good. Short term moves higher do not guarantee that a solid upwards climb is going to be maintained.

The broad cryptocurrency market remains a dangerous place to speculate. Traders who remain skeptics and believe more downside momentum will be generated within ETH/USD and the other major cryptocurrencies may be making the logical choice, but being able to capture moves lower will also need a solid dose of risk management. Large percentage changes of value can make a trader profitable, but wrong moves can also be costly.

If ETH/USD breaks below the 1100.00 mark this could spark additional selling in ETH/USD.  A move to 1075.00 in Ethereum would not be a welcome site if price velocity bursts forward. Support below the 1050.00 level should be monitored, because if this level proves vulnerable another move to lower depths could develop.  Another move below 1000.00 in the near term would be a bad signal for ETH/USD and greater declines could ensue.

Traders should not be overly ambitious in the current market, they should be willing to cash out profits when they are satisfied, this before watching money vanish into thin air when reversals develop which go against the chosen direction of a desired target. The ability of ETH/USD to climb higher the past couple of days incrementally should serve as strong reminders price movements do not happen in only one direction, even if there is solid trend to observe. 

Ethereum Short Term Outlook:

Current Resistance: 1158.00

Current Support: 1088.00

High Target: 1284.00

Low Target: 933.00

BNB/USD has slumped in price the past day and a half, as nervous speculators and legal shadows loom over Binance.

BNB/USD is trading near the 287.0000 mark as of this morning, on the 6^th of June Binance climbed to a high of nearly 312.0000. However, the broad cryptocurrency market remains fragile, and also creating potential headwinds among speculators are legal shadows which hover over Binance as regulators ask questions regarding the company’s business practices.

After falling below the 300.0000 level on Monday, BNB/USD did show price velocity downwards.  Yesterday’s prices action in BNB/USD did mirror the major cryptocurrencies and reversals higher have been accomplished in limited fashion this morning after hitting a low of nearly 283.0000 a few hours ago. This ratio should now be watched as support by day traders.

The 300.0000 level remains a natural target for speculative bullish investors, but buyers may be in short supply near term for BNB/USD. Traders are encouraged to keep their expectations realistic if they seek upwards movement in the short term. Digital assets including BNB/USD remain within sight of important support levels.

While Bitcoin and Ethereum did escape the clutches of their lower depths yesterday, there still does not seem to be a sparkling climb upwards that is about to be generated.  The long term bearish trend remains intact. Traders who believe Binance Coin is oversold are free to have their opinions and in the long term may be proven correct, but speculators seem to lack confidence and there appears to be a shortage of overwhelmingly strong bullish buyers who can turnaround the trend.

If support levels are aimed for in the short term this may prove to be a worthwhile wager, but traders should anticipate choppy conditions to linger.  However, if the 283.0000 ratio were to fail and prices below start to be flirted with another wave of selling could ignite rather quickly.

Yesterday’s low price for BNB/USD was near 274.0000 and another test of this level is certainly not out of the question near term. From a risk reward technical perspective combined with the fragile state of the cryptocurrency market, it would appear that BNB/USD has a greater chance to see greater volatility downwards compared to upwards momentum.

Potential bulls looking for upside price action should be careful and use tight take profit targets which aim for existing resistance levels.  A move above the 290.0000 would be a good first step for BNB/USD with a higher goal of 296.0000 perhaps too optimistic. If BNB/USD is not able to topple the 290.0000 mark in the short term, it may be a signal that consolidation is going to generate another move lower.

Binance Coin Short Term Outlook:

Current Resistance: 290.1000

Current Support: 284.6000

High Target: 303.9000

Low Target: 261.0000