Ethereum Price Technical Analysis for 23/12/2015 - A Decisive Breakdown
In line with our yesterday's bearish call, Ethereum has cracked the important support level of 0.002BTC as bitcoin shows strong positive signs. With the breach, Ethereum has dropped roughly 3% to trade at 0.00198BTC. It touched an intraday low of 0.00194BTC. The pain is clearly not over for Ethereum; the momentum and the strength indicators have taken drastic cuts, and the price may see 0.0019BTC before short-sellers cover their positions. Take a look at the latest technical considerations from the 4-h ETH-XBT price chart taken from the KRAKEN exchange. Image. Chart Structure - Although....
Related News
Ethereum has plummeted more than 5% in the past 24 hours to touch a low of 0.00187BTC. Currently sustaining at 0.00192BTC, Ethereum does not provide a low-risk trading opportunity to the market participants. But yes, those who would have followed our short advice in the previous Ethereum price technical analysis A Decisive Breakdown would have profited. At the current level, I am compelled to put forth points which solidify my opinion that the ETH-XBT pair is in a “no-trade” zone. I will be drawing these points from the 4-h ETH-XBT price chart taken from KRAKEN exchange. Chart Structure –....
In what appears to be the first conclusive sign of an upcoming breakdown, Bitcoin ended yesterday's trading session at the lowest closing for September-to-date. And currently, Bitcoin seems to be staging a fake pullback to entice more market participants to go long without reading too much into the breakdown. Bitcoin is currently trading at $227.92 and the resistance is now at $228.60. In the previous Bitcoin price technical analysis A Disappointing End to the Week!, we discussed how the technical indicators were reflecting the bearish sentiments in Bitcoin, and today, we are going to....
A new technical analysis on TradingView suggests Bitcoin may be approaching a decisive moment, with a possible breakdown below key support levels. This analysis comes amidst a weakening buying pressure in Bitcoin, which opens up the possibility of a break below a strong support level. If this happens, Bitcoin could see further downside to $80,000 or even $73,000 in the coming weeks. Related Reading: Panic Or Opportunity? Dogecoin Whales Liquidate 100 Million Coins Bitcoin Faces Critical Support Test At $93,000 Technical analysis shows that Bitcoin has been fluctuating between an upper....
Litecoin is currently down 1.38 percent at $2.781 as the Bitcoin market registers a breakdown. As mentioned in the previous Litecoin price technical analysis No Trading Zone, market participants have their eyes now set on $2.700, the level which had acted as a support in the past. And further weakness in the Bitcoin market may lead to a breakdown kind of situation in Litecoin as well. Here are the latest technical points from the daily LTC-USD price chart. Litecoin Chart Structure - As can be seen, Litecoin remains capped under the influence of the 30-day simple moving average, the current....
Ethereum Price Key Highlights. Upon breaking below the bottom of the rising wedge consolidation pattern recently, ethereum price has its sights set on new lows. Technical indicators suggest that the selloff is gaining traction but that a pullback to the broken support zones might still be possible. Ethereum price is eyeing further downside and might be ready to test the yearly lows as seen on the 4-hour time frame. Bearish Pressure Rising. Bitcoin price has broken to the upside of its consolidation pattern, which may have been partly to blame for the downside break in ETHXBT. The chart....