Ethereum Price Technical Analysis – Watch Out For 100 SMA
Ethereum price is looking positive on the 2-hours chart. There is a trend line support and 100 SMA providing support to the bulls in the short term. important Support Level can be $5.05. Important Resistance Level can be $5.35. Yesterday, I highlighted an idea of buying dips in Ethereum price. It worked perfectly, as after moving a few points down buyers appeared and pushed the price back higher. Now, what’s next? Can we consider buying once again? The answer may be yes. Let’s look at the 2-hours chart of Ethereum price (data feed via Kraken). There is a bullish trend line is formed, which....
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Bitcoin is seeing a tepid start to this week as neither the bulls nor the bears exert any pressure on the other. The cryptocurrency looks relatively calm in the low-volume season, as do the technical indicators. Market participants should refrain from excessive trading in such conditions. Bitcoin is currently trading at $421.53. The technical indicators overlaid on the 4-h BTC-USD price chart from BITSTAMP are giving mixed signals. This, coupled with the lackluster price action, is compelling me to advise that this is a no-trade market, and one should wait for better opportunities to....
Ethereum Price Key Highlights. Ethereum price had been on a downtrend but is now forming a reversal pattern, signaling that an uptrend might be in the cards. Price still has to test the neckline at the 0.00230 level and make an upside break before confirming the potential rally. Ethereum price seems to be exhausted from its recent selloff, creating a double bottom after failing to break below the 0.00180 area. Bitcoin Price Weakness. Ethereum price took advantage of the bitcoin selloff that took place during the FOMC statement, as the Fed's decision to hike interest rates spurred demand....
Ethereum price might be ready to resume its drop to its previous lows or much lower after correcting to an area of interest. Ethereum price had been moving inside a range between resistance near 0.00230 and support at 0.00215 before breaking to the downside. Price dipped to a low of 0.00205 before showing signs of a pullback. Using the Fibonacci retracement tool on the latest swing high and low shows that the 50% level lines up with the broken support, which might now hold as resistance. Ethereum price might be ready to resume its drop to its previous lows or much lower after correcting to....