Ethereum Price Technical Analysis - Tight Consolidation, Breakout Looming?
Ethereum Price Key highlights. Ethereum price is moving sideways on the 1-hour time frame, creating a triangle formation on the short-term chart. The path of least resistance is to the downside, as the longer-term downtrend is still intact. Ethereum price could find more downside momentum, pending a break below the support of the current consolidation pattern. Testing triangle resistance. At the moment, Ethereum price is hovering around the top of the triangle consolidation around 0.00261BTC, which might be enough to keep further gains in check. A return in selling pressure could lead to a....
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Bitcoin price is still staying inside the consolidation pattern for now but could be ready to break out as it approaches the peak of the formation. Bitcoin Price Key Highlights. Bitcoin price is still stuck in consolidation, moving inside a symmetrical triangle formation as illustrated in an earlier article. Price just bounced off the triangle support after a number of tests and is now making its way to the top. Technical indicators seem to be suggesting that a downside breakout is due. Technical Indicators Signals. The 100 SMA is below the longer-term 200 SMA, which means that the path of....
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