Ethereum Price Technical Analysis for 29/12/2015 - A Safe Short
Ethereum has dropped 1.5 percent to 0.00197BTC, in line with our bearish expectations. We iterated our short view in the previous technical analysis titled Bitcoin-fueled bounce fades away. The price action in the past 24 hours has been strongly bearish and threatens a further 4% drop in the pair. Chart Structure – The underlying weakness in ETH-XBT forced the pair below the 20 4-h SMA (we discussed this possibility in the previous price analysis). The bulls did attempt to reverse the losses but failed miserably as the bears used the breached moving average as an offloading level. The pair....
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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 –....
Ethereum price finally broke $20.0, which is a sign that the ETH bulls are in control. Can it continue to trade higher or should we trade safe? Key Highlights. Ethereum price finally tested and broke my much anticipated target of $20.0 against the US Dollar. During my last couple of analysis, I highlighted that the price may test or even break the $20.0 resistance level in the short term. There was a resistance trend line on the hourly chart (data feed via Kraken) of ETH/USD, which was cleared recently to open the doors for more upsides. Ethereum Price Support. Ethereum price ETH continued....
My short call on Ethereum completely bombed! Ethereum has soared 5.6 percent to 0.00208BTC, mauling the short sellers in a surprise jump. I was anticipating a decline to 0.0019BTC but Ethereum instead rose to hit a high of 0.0021BTC. With this, Ethereum has approached the strong resistance level of 0.0021BTC with confidence. Beyond this hurdle, the pair will appreciate roughly 10 percent. The ETH-XBT pair has formed an inverse head & shoulders pattern; a technical bullish pattern successful completion of which brings huge gains for the underlying. Today, we will discuss the best-case and....
Bitcoin has fallen 2.09 percent during the weekend to reach an extremely important trading level. The price of Bitcoin now is $256.74, in close vicinity to what we had been discussing in the many previous analyses. Now as Bitcoin has reached its target price of $256, with reference to the descending triangle pattern, it has improved the prospects of a short-term rebound. So, will there be any? Let us find out in the technical analysis of the daily BTC-USD price chart below. Bitcoin Chart Structure - The Bitcoin price has been slumping ever since it hit its peak of $318 this year. The price....
Bitcoin rises more than 2 percent to $430.21, nearing our year-end target of $440. In the previous price technical analysis A No Trade Market, we mentioned that an increasing MFI often causes price appreciation, and we are witnessing just that. The question now is: Would bitcoin be able to extend the gains or will it retrace its steps? Let us try to predict this with the help of technical analysis conducted on the 240-minute BTC-USD price chart. Bitcoin is well poised to increase its duration inside the $400-440 range, at least for the next couple of sessions. There is a high probability....