Ethereum Price Technical Analysis 03/23/2016 – Can Support Hold?
Ethereum price is currently trading near an important support area. A break below may call for more losses, else it might move back higher. Ethereum price managed to move a few more points higher intraday, and traded as high as $12.19. However, ETH failed to sustain momentum, and started to move down. During the downside move, the ETHUSD pair also broke a major support area in the form of a bullish trend line formed on the hourly chart (data feed via Kraken). This is a short-term bearish sign for the bulls, but there is another aspect. The price is currently holding the 100 simple moving....
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Ethereum Price Key Highlights. Ethereum price retreated from its recent rally upon hitting a high of 0.00294 but might be ready to resume its climb soon. Price has pulled back to the moving averages, which might hold as dynamic support areas, and could gather more bullish momentum. Ethereum price is taking a break from its uptrend but might be due to head north again, if the near-term inflection points hold as support. Correction Over? Technical indicators seem to be suggesting that the ethereum price correction is already over, as stochastic made it out of the oversold region and is....
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....
Ethereum price extended its downside against the USD, and moved below $7.00. However, the ETH/USD pair has now reached a monster support just above $6.00. Key Highlights. ETH price collapsed further against the US Dollar and Bitcoin, and reached a monster support around $6.20-40. There are two bearish trend lines formed on the hourly chart (data feed via SimpleFX) of ETH/USD, which may act as a resistance if the price recovers. No doubt, the price has reached a major turning points or we may call it as make it or break it levels. Ethereum Price Support to Hold Downsides? ETH price failed....
Bitcoin price might be able to test the 4-hour channel bottom if the short-term support breaks down. Bitcoin price is currently stalling at the 100 SMA, which might hold as a dynamic support level. Speaking of moving averages, the 100 SMA is still above the longer-term 200 SMA so the path of least resistance is to the upside and the uptrend could resume at some point. Meanwhile, the 200 SMA lines up with the bottom of the 4-hour channel support and could also hold as the line in the sand for any rallies. A break below this area could set off a downtrend. RSI is treading sideways, barely....
Bitcoin price has taken a pause from its recent sharp drop, as sellers are waiting for more downside pressure. Potential catalysts for bitcoin price volatility this week include the release of US retail sales, PPI, and consumer sentiment data on Friday. Most of the technical indicators on the 1-hour chart of bitcoin price seem to suggest that more losses are possible. The short-term 100 SMA has just crossed below the longer-term 200 SMA, indicating that the path of least resistance is to the downside. If a pullback occurs, the moving averages might be able to hold as dynamic resistance....