Why This Ethereum Indicator Points to Bullish Continuation
Ethereum briefly bounced back from its critical support zone, but the bears resumed their attack. The second crypto by market cap has returned to an area that must be defended to prevent further losses. Related Reading | TA: Ethereum Revisits $2.8K, Why Upsides Might Be Limited At the time of writing, Ethereum (ETH) trades at $2,840 with a 3% loss in the last 24-hours. The general sentiment in the market has been trending to the negative as Bitcoin, Ethereum, and larger cryptocurrencies experience more downside. However, some experts have been providing bulls with hope as long as the....
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Ethereum has the potential to extend its ongoing upside move towards or above $1,500. The second-largest cryptocurrency broke above a consolidation price channel on Wednesday, breaking its upper trendline on surging volumes. So it appears, the channel is an Ascending Triangle that traders perceive as a bullish continuation indicator. An Ascending Triangle structure develops when […]
Bitcoin price continued to rise yesterday scoring a high of $244. The pattern of the new bullish wave has been established as we explained during our yesterday's "intraday tips" article. By analyzing the 1 day Bitfinex (BTC/USD) charts and plotting the RSI and the 20 day EMA accordingly (look at the below chart), we can conclude the following: The current bullish trend can be viewed as a continuation of the bullish wave that started on the 15th of January, if we consider that the first bullish rally had been halted by a price correction wave that triggered sideways movements for a few....
Litecoin price advanced slowly yesterday towards the north to score a high of around $1.90 on its way to the $2.35 resistance level. It seems that the bullish wave is going to continue on today to attempt to test the 62% Fibonacci retracement level at $2.35. By studying the 4 hour Bitfinex (LTC/USD) charts from tradingview.com and plotting the William's Alligator indicator accordingly (look at the below chart), we can better understand the pattern of the uptrend that was ignited on the 16th of January. The following can be observed by studying the chart: The moving averages of the....
Ethereum is up 3% and it is trading nicely above $400 against the US Dollar. ETH price is showing positive signs and it could rally if there is a clear break above $410. Ethereum is back above the key $400 and $402 support levels. The price is currently facing a major hurdle near $410, but […]
Bitcoin price resumed its upward movement today as it rose from around $232 to over $247 at the time of the writing of this article. The buying volume of today's market seems to be pushing the price towards the $256 resistance line. By studying the 4 hour Bitfinex BTC/USD charts from tradingview.com (look at the below chart), we can see that the trading day started by forming four bullish (green) candles which points to today's market buying power, so we are likely to see the price increasing even more later today. By plotting the "William's Alligator" indicator on the same charts as we....