Bitcoin, Ethereum Technical Analysis: BTC Approaching $40,000 Support on NFP Day
Following three consecutive sessions of declines, BTC was fast approaching its support level of $40,000 on Friday, as markets prepared for February’s nonfarm payrolls report. This came as ETH also fell lower, and is approaching its own floor of $2,500 in the process. Bitcoin BTC bulls have been few and far between over the last few days, as the world’s largest cryptocurrency faced growing pressure from bears. This pressure came following Tuesday’s climb to the resistance level of $45,000, which then triggered an onslaught of short sellers, who entered the market. As....
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Ethereum gained pace above the $1,300 level against the US Dollar, but it struggled near $1,375. ETH price is approaching a major support and it is likely to bounce back above $1,350. Ethereum faced a strong selling interest near $1,375 and corrected lower. The price is approaching the $1,300 support zone and the 100 hourly […]
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....
Bitcoin price is retreating from its climb but this might offer bulls an opportunity to restart the rally at better prices. Bitcoin Price Key Highlights. Bitcoin price broke down from the earlier short-term consolidation as predicted in an earlier article. Price is now approaching a longer-term area of interest and potential support visible on the 4-hour chart. There’s a confluence of inflection points all around the $620 level, which might keep losses in check. Technical Indicators Signals. Bitcoin price is trading above a rising trend line visible on its 4-hour time frame, and this....
Ethereum price looks like setting up for a minor correction towards a major support area of $13.20 where it may find buyers. Key Highlights. Ethereum price after posting a minor high around $14.38 vs the US Dollar found offers, and started consolidating gains. Yesterday’s highlighted bullish trend line on the hourly chart (data feed via Kraken) of ETH/USD is still in the action and may act as a support area. The price may correct a few points down before it can find bids once again in the short term. Ethereum Price – $13.20 As Support. Ethereum price ETH may have made a short-term top near....