Ethereum Price Technical Analysis 03/17/2016 – Short Term Sell?
Ethereum price climbed higher towards the $14.00 level as forecasted. However, there was a bearish pressure noted taking the price down. Intraday Support Level may be $11.80. Intraday Resistance Level can be $13.50. Ethereum price had a good upside run during the starting sessions yesterday as forecasted, as the price even traded close to the $14.00 level as forecasted. However, there sellers around the stated level, which pushed the price down. Currently, there is a bearish trend line forming on the hourly chart (data feed via Kraken), which is acting as a barrier and pushing the price....
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Ethereum price was a perfect sell intraday as forecasted. It looks like there is a room for another downside move if all goes well. Intraday Support Level can be $10.00. Intraday Resistance Level may be $12.50. Ethereum price was aligned for a short-term downside move, as forecasted in yesterday’s post. I forecasted selling near a major resistance area, which was formed near a bearish trend line on the hourly chart (data feed via Kraken). The trend line resistance area acted as a perfect barrier and pushed the price down to hit all our sell targets. Now what? I think the price has started....
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