Ethereum Price Technical Analysis for 11/11/2015 - Check Out That Reversal Pattern!
Ethereum Price Key Highlights. Ethereum price has been on a downtrend on its longer-term time frames, but it looks like the tides could turn. A double bottom pattern is visible on the 4-hour chart and price is making its way up to test the neckline at 0.0040. Ethereum price could be in for a long-term uptrend if it is able to break past the neckline resistance soon. Technical Indicators In Favor Of the Bulls. The technical indicators on the 4-hour time frame support further gains in ethereum price, as the 100 SMA just crossed above the 200 SMA. This signals that the path of least....
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Bitcoin price has slumped more than 3.5% bringing the bearish Head and Shoulders pattern to near completion. Bitcoin dropped from roughly $254 to $243 which is in close proximity to the target of $241.50. With this loss, the cryptocurrency has erased all the gains for the month of April. Each Bitcoin is currently worth $244. An analysis of the 240-minute BTC/USD price chart reveals that the damage has been done and the price may consolidate or rebound in the coming sessions. Head & Shoulders Pattern - Bitcoin had been forming a Head & Shoulders pattern - a technical bearish reversal....
Don’t be alarmed by the current slump in the bitcoin price. In fact, there is still cause for optimism. The market is going through a reversal pattern to the $700 level, where a congestion area should reinforce quotes for another climb to $820, keeping us right on track to hit the projections advanced last week. Bitcoin Price Analysis: Bulls Still in Control. Long-Term Analysis. After testing the lowest support at the $580-$600 level, prices should enter an upward reversal pattern soon, which will allow an initial pull back to $700, extended to Fibonacci´s technical objective at $820. The....
Bitcoin Price Key Highlights. Bitcoin price has gradually been trending higher but it looks like the rally is starting to lose steam. Price might be forming a head and shoulders pattern on its 1-hour time frame, as the recent bounce off the Fib levels barely gained traction. Bitcoin price could be due for another selloff if the reversal formation is completed and a downside break of the neckline is seen. Short-Term Area of Interest. Using the Fib tool on the latest down move shows that the 50% level lines up with an area of interest around $365. This also coincides with the 100 SMA, which....
Bitcoin Price Key Highlights. As predicted in an earlier article, bitcoin price was hit by profit-taking during the FOMC statement, as the US central bank decided to hike interest rates for the first time in nearly a decade. Price is now testing the rising trend line visible on the 1-hour and 4-hour time frames and may be due for a bounce. Reversal Pattern? The 100 SMA is still above the longer-term 200 SMA, which means that the path of least resistance is to the upside. However, a downward crossover is looming so a reversal could also be possible if that happens. In addition, a complex....
Owing to short covering and some value buying, Litecoin has managed to reach the stop-loss level of $1.690 mentioned in All the Reasons to Short!. So, will we see an upside breakout or will the bears make a timely entry, let's find out here. Litecoin is trading up 3.37% at $1.688. A technical analysis of the 240-minute LTC/USD price chart has been conducted to help the market participants make informed trading decisions. Litecoin Chart Structure - Litecoin has rebounded strongly after crashing to a low of $1.562. Interestingly, the cryptocurrency has formed a Reverse Head & Shoulder....