Ethereum Price Technical Analysis 03/04/2016 – Significant Support Formed

Ethereum price rocketed past $11.00 during the past session. It looks like buying dips is the most fruitful idea in the near term. Intraday Support Level may be $11.20. Intraday Resistance Level can be $11.80. Ethereum price after closing the week above $10.0 found support once again and traded higher. I was anticipating a test of $11.00, and the price did break the stated level. A new high of $11.98 was formed, and it looks like there is a chance that the price may trade back higher once again. There was a minor correction noted after the price almost traded close to the $12.0 handle.....

Ethereum price popped above a major resistance area of $11.80. Now, can it provide support and push ETH higher versus the USD? Ethereum price kept struggling near the $11.80 resistance area, as highlighted in yesterday’s post. However, the ETH bulls finally managed to take the price above the stated level, and there was an hourly close above it. Now, the price is moving down, and the same resistance area is currently acting as a support and helping the bulls to regain ground. There is an ascending channel pattern formed on the hourly chart (data feed via Kraken) of ETH/USD, which may play....

Ethereum price faced a lot of selling pressure and moved down. However, the $10.00 support area holds the key and may produce a bounce. As mentioned, Ethereum price failed to recover yesterday, and continued to move down against the US Dollar. A new weekly low of $10.00 was formed, which provided support to ETH/USD. The price is currently making an attempt to trade higher, but facing resistance near a bearish trend line formed on the hourly chart (data feed via Kraken). However, ETH has already moved above the 23.6% Fib retracement level of the last leg from the $11.90 high to $10.00 low.....

Ethereum Price Key Highlights. Ethereum price is still struggling to pick up its pace in the downtrend, as another consolidation pattern formed on the short-term time frame. Price is stuck inside a descending triangle pattern, with sellers trying to gain enough energy to push for a downside break of support around 0.00160BTC. Ethereum price is able to carry on with its ongoing selloff, although sellers appear to be having difficulty taking it down to new lows. Potential triangle breakout. For now, ethereum price is testing the triangle support but several spikes have formed, which suggests....

Ethereum price managed to gain further traction and moved above the $8.20 resistance. More gains are possible in ETH/USD since buyers are in control. Key Highlights. ETH price continued its upside move against the US dollar, and traded above the $8.20 level. There is a bullish trend line formed on the hourly chart (data feed via SimpleFX) of ETH/USD, which is acting as a support near $8.15-10. One may consider buying dips as long as the price is above the $8.00 support. Ethereum Price Buy Dips. There were further gains in ETH price against the US Dollar, as the price broke yesterday’s high....