Ethereum Price Technical Analysis for 16/11/2015 - Rising Wedge Forming
Ethereum Price Key Highlights. Ethereum price is gradually trending higher but there are still some signs of consolidation, creating a rising wedge pattern on its 1-hour time frame. Price is currently hovering near the wedge support, as buyers and sellers try to decide whether a bounce or a break is in order. Ethereum price is still picking a direction, with a slight bias to the upside, as bitcoin price is also under a bit of selling pressure. Potential Resistance at 0.00300? A bounce off the wedge support around 0.00260 could lead to a move up to the top of the pattern just past the....
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Ethereum Price Key Highlights. Ethereum price is still slowly climbing, transitioning into a rising wedge formation from an earlier ascending channel. Price bounced off the mid-channel area of interest as predicted in an earlier article, reflecting increased bullish pressure. With the consolidation getting tighter and ethereum price approaching the peak of the wedge, a breakout in either direction is imminent. Waiting for Bitcoin Breakout? Bitcoin is also stuck in a consolidation pattern, as traders are probably on the lookout for more catalysts. This has kept ethereum price in....
Ethereum Price Key Highlights. After spending weeks inside a rising wedge pattern, ethereum price finally picked a direction and might be ready for a sustained move. Price could head further south now that it broke below the rising wedge support. However, the previous breakdown failed to draw enough momentum. Ethereum price could have another chance at going for a longer-term trend, as it made a strong downside break from a consolidation pattern. How Low Can It Go? Ethereum price is currently testing the support at the moving averages, which have previously held as dynamic inflection....
Bitcoin price appears to be trading inside a rising wedge pattern on the 4-hour chart and is currently testing the bottom. Bitcoin Price Key Highlights. Bitcoin price hasn’t made much headway north after pulling back to a nearby support zone. Price seems to be moving inside a rising wedge pattern, as buyers are trying to push higher while sellers are also putting up a strong fight. Technical indicators are hinting that further gains are in the cards for bitcoin price. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on this time frame so the path of least....
XMR is also nearing a breakdown move led by the formation of rising wedge, a classic bearish reversal pattern. Monero (XMR) price may witness a sharp pullback by June because its 75% rally in the last two weeks has left the gauge almost "overbought."Monero price RSI meets rising wedgeDownside risks have been mounting due to XMR's relative strength index (RSI), which almost hit 70 this May 23, indicating that the market is considered overvalued. An oversold RSI could amount to a bout of declining moves, as a rule of technical analysis.Additionally, Monero is also painting a bearish reversal....
Bitcoin price is consolidating in a rising wedge pattern and the direction of its breakout could set the tone for long-term movement. Bitcoin Price Key Highlights. Bitcoin price recently broke to the downside of its short-term uptrend, signaling a reversal underway. Price is stuck in consolidation for the time being, as traders have been booking profits from the previous drop and waiting for more cues. A break below the rising wedge pattern could confirm that longer-term losses are in the cards. Technical Indicators Signals. The 100 SMA just recently crossed below the longer-term 200 SMA....