Ethereum Price Technical Analysis – ETH Remains Vulnerable
Ethereum price faced offers during the recent recover attempt. It looks like ETH/USD is poised for a test of $7.00 in the short term. Ethereum price ETH continued its downtrend and moved further down. Yesterday, there was an attempt to correct higher, but a bearish trend line formed on the hourly chart (data feed via Kraken) of ETH/USD prevented the upside move and pushed the price down once again. The highlighted trend line resistance holds a lot of importance, as it acted as a barrier for the ETH bulls on many occasions. An initial resistance on the upside lies at the 23.6% Fib....
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Ethereum is trading very flat in a dull session as bitcoin remains undecided about the future direction. Currently at 0.00191BTC, Ethereum is in a no trade zone as discussed in the previous technical analysis. Sole Positive – The technical indicators are, however, rebounding from the respective oversold levels. I would like to discuss the resistance and support levels for Ethereum now. To serve this purpose, I will be using the 4-h ETH-XBT pair. Chart Structure – The pair has been registering lower tops and lower bottoms for the past 10 trading sessions. Connecting the two highs in this....
The sharp jump in Ethereum to 0.0021BTC was due to a swift decline in bitcoin price from above-$440 to $410. But with bitcoin now rising to $424, Ethereum has slowly and steadily reduced the gains to 0.0020BTC. Therefore, I do not lay much emphasis on the fact that Ethereum has violated the downward trendline joining the peaks of the past two weeks. As bitcoin remains undecided about the future course of action, I do not expect major deviations in Ethereum as well. Now, let us take a look at the latest technical indications from the 4-h ETH-XBT price chart taken from KRAKEN exchange. Chart....
Ethereum is facing an uphill task near the $2,000 zone against the US Dollar. ETH price remains at a risk of a larger decline below the $1,800 support zone. Ethereum started a fresh decline after it failed to surpass the $2,000 resistance zone. The price is still trading well below the $2,000 resistance and the […]
Ethereum declined towards the $530 zone before recovering above $550 against the US Dollar. ETH price is now facing a strong resistance near the $580 level and the 100 hourly SMA. Ethereum started a strong recovery wave above the $550 and $565 resistance levels. The price is now facing hurdles near the $580 level and […]
Bitcoin price is pushing toward its three-month resistance ceiling. Technical and sentiment analysis argue for a return to decline, and fundamental analysis shows that Bitcoin’s value is more fragile than many realize. Friday’s technical analysis concluded that the outlook for bitcoin price is bearish while price fails to break above the prevailing resistance ceiling (blue down-sloping line in the chart). Going forward, technical analysis will be informed by the position of price in relation to this ceiling: if the market can successfully trade price above it, we can expect continuing....