Ethereum Price Technical Analysis – Further Appreciation Likely
Ethereum price traded further higher, and then started consolidating gains. There is a chance of another upside move in ETH/USD moving ahead. Yesterday, I mentioned that there is a risk of more upsides in Ethereum price ETH against the US Dollar. The price did move a few points higher, but found sellers near a resistance trend line on the hourly chart (data feed via Kraken) of ETH/USD. There was a minor correction after failing to clear the trend line resistance, but the price found bids near a major support area. On the downside, the $8.00 level, which acted as a resistance earlier is....
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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....
Ethereum price moved into the bullish zone and settled above $11.00. Buying may be considered in the short term. See how. Ethereum price spiked higher intraday and also managed to clear a major resistance area of $11.00, as highlighted in yesterday’s post. The most important bullish sign is that ETH/USD settled above the upper bearish trend line of the descending channel pattern formed on the hourly chart (data feed via Kraken). Moreover, the move was so impressive that the price closed above the 100 hourly simple moving average. All in all the price closed in a bullish territory, and may....
Bitcoin has crossed the crucial resistance mentioned in A Breakout Everybody's Waiting For!, rising roughly 1.54% to trade at $235.75. The price appreciation has also led to overbought valuation for Bitcoin which might face stiff resistance from the next supply region at around $238. So, should you be buying Bitcoin now or not? Let's find out in the technical analysis below! Technical analysis of the above presented 240-minute BTC/USD price chart indicates that bulls have complete control over the situation and that Bitcoin is a pure buy-on-dips play. Bitcoin Chart Structure - After....
Bitcoin has jumped more than 4% to $456.75 as bulls take advantage of the positive technical undertone. With this, the cyptocurrency has also met our prescribed target of $458. So, should you be booking profits now? Let us find that out with the help of technical analysis conducted on a 4-h BTC-USD price chart taken from BITSTAMP. Chart Structure – Bitcoin is now threatening to take out the Triple Top resistance near $465. The resurgent bulls look in complete control of the situation. Bollinger Bands – The cryptocurrency is sustaining above the upper range of the BB, after taking support....
As expected, Bitcoin has ended its boring period over the weekend and things have taken an interesting turn as the price rose above strong resistance levels. Bitcoin has jumped 1.4% since Friday's observation to trade at $232.17, a level which is eagerly watched by all market participants. And technically, the current market conditions strongly favor the bulls. Technical analysis of the above presented 240-minute BTC/USD price chart conveys that bulls might eventually take the price higher to $245. Bitcoin Chart Structure - As can be seen from the chart above, consistent buying has pulled....