Ethereum Price Technical Analysis – Risk of Bounce Grows
Ethereum price surged higher and broke a major resistance area. Buying dips in the short term may be considered eyeing a test of $10.40. Ethereum price ETH managed to break a range pattern vs the US Dollar and popped higher. During the upside move ETH/USD managed to break a couple of important barriers, including a bearish trend line on the hourly chart (data feed via Kraken). The most important move was above the 100 hourly simple moving average, which is a signal that the ETH bulls are in control at present. The price almost tested the $10.0 handle, and currently consolidating gains. I....
Related News
Ethereum Price Key Highlights. Ethereum price appears to be creating a range on its 1-hour time frame, unable to sustain its momentum after an earlier breakout. Price found resistance at 0.00300 and support at the 0.00285 area. Ethereum price just bounced off the top of its range and may be ready to test the bottom once more. Ethereum price could continue with its sideways movement, as technical indicators aren't offering any signals for directional plays. Short-Term Profit Opportunities. With that, ethereum traders might simply go for short-term gains, buying off support and selling at....
Ethereum price traded down near $7.0 where buyers appeared. Currently, it looks like there is a chance of ETH/USD breaking higher in the short term. Ethereum price ETH made a perfect bottom near $7.0. I highlighted in yesterday’s analysis that there is a chance of ETH/USD moving down towards $7.0, which can then produce a bounce. The price did test the mentioned level and moved higher later. There was a nice upside reaction, signaling more gains in the near term. ETH/USD is currently attempting to break a bearish trend line on the hourly chart (data feed via Kraken), which is also....
Ethereum has dropped 1.5 percent to 0.00197BTC, in line with our bearish expectations. We iterated our short view in the previous technical analysis titled Bitcoin-fueled bounce fades away. The price action in the past 24 hours has been strongly bearish and threatens a further 4% drop in the pair. Chart Structure – The underlying weakness in ETH-XBT forced the pair below the 20 4-h SMA (we discussed this possibility in the previous price analysis). The bulls did attempt to reverse the losses but failed miserably as the bears used the breached moving average as an offloading level. The pair....
Bitcoin price could be due for a bounce off this support zone and technical indicators appear to be in agreement. Bitcoin Price Key Highlights. Bitcoin price underwent additional volatility and sold off yesterday but it appears to be testing another support area. Price is forming an ascending channel pattern on its 1-hour time frame and might be due for a bounce towards the resistance. Technical indicators are also suggesting that buyers could regain control. Technical Indicators Signals. The 100 SMA is crossing above the longer-term 200 SMA to confirm that the uptrend could carry on. In....
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....