Bitcoin, Ethereum Technical Analysis: ETH Breaks Resistance to Hit 9-Day High
Bitcoin and ETH both rose to nine-day highs on Wednesday, as bulls continued to push prices higher following yesterday’s rebound. BTC moved into the $42,000 level after breaking a key resistance point, while ETH also climbed beyond its own ceiling of $3,150. Bitcoin BTC rose for a third session on Wednesday, as bulls continued to push prices higher, following a selloff during the Easter weekend. The world’s largest cryptocurrency is now up by over $3,000 since Monday’s low of $38,551, and as of writing, is over 3% higher on the day. Today’s price surge raced to....
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Ethereum classic price once again failed to retain the bullish momentum against the Bitcoin, and moved down below the 0.00121BTC support area. Key Highlights. Ethereum classic price consolidating for some time against the Bitcoin breaks a short-term support area. Yesterday’s highlighted bullish trend line on the hourly chart of ETC/BTC (data feed via Simplefx) was broken to ignite a downside move. The broken trend line support at 0.00121BTC may now act as a resistance. Ethereum Classic Price Resistance. ETC price again failed to climb higher, as the 0.00127BTC resistance against the....
Ethereum has staged a strong performance over the past 24 hours, with its price rallying close to its previous all-time high. According to data from CoinGecko, ETH climbed as high as $4,837, just a touch below its 2021 peak of $4,878. The surge came after Federal Reserve Chair Jerome Powell’s speech at Jackson Hole, where he hinted that long-awaited rate cuts might be coming soon. Interestingly, Ethereum is not only performing well against the dollar but also against Bitcoin, where technical analysis shows a long-awaited structural trendline appears to be breaking in Ethereum’s favor.....
Ethereum is trading very flat in a dull session as bitcoin remains undecided about the future direction. Currently at 0.00191BTC, Ethereum is in a no trade zone as discussed in the previous technical analysis. Sole Positive – The technical indicators are, however, rebounding from the respective oversold levels. I would like to discuss the resistance and support levels for Ethereum now. To serve this purpose, I will be using the 4-h ETH-XBT pair. Chart Structure – The pair has been registering lower tops and lower bottoms for the past 10 trading sessions. Connecting the two highs in this....
Litecoin rises 2.92 percent to $3.098 as it breaks away from the consolidation phase which lasted for 7 consecutive days. This is also the highest closing level for Litecoin in over a month. The rise in Litecoin could also be partly attributed to a strong surge in Bitcoin on the back of a strong momentum breakout. Helped by the price jump, Litecoin is now in the sniffing distance of a crucial overhead resistance which we discussed in the previous Litecoin analysis In a Fix? Below are the latest technical considerations taken from the daily LTC-USD price chart. Helped by the price jump,....
My short call on Ethereum completely bombed! Ethereum has soared 5.6 percent to 0.00208BTC, mauling the short sellers in a surprise jump. I was anticipating a decline to 0.0019BTC but Ethereum instead rose to hit a high of 0.0021BTC. With this, Ethereum has approached the strong resistance level of 0.0021BTC with confidence. Beyond this hurdle, the pair will appreciate roughly 10 percent. The ETH-XBT pair has formed an inverse head & shoulders pattern; a technical bullish pattern successful completion of which brings huge gains for the underlying. Today, we will discuss the best-case and....