Ethereum Price Technical Analysis – ETH Attempting To Recover

Ethereum price managed to bounce a couple of times from the lows and currently attempting to break a major resistance area. Key Highlights. ETH price after a couple of spikes lower against the US Dollar managed to recover. There is a new bearish trend line formed along with a support on the hourly chart (data feed via SimpleFX) of ETH/USD. A break either lower or higher is needed for the next move in ETH/USD. Ethereum Price Bearish Trend Line. Ethereum price ETH struggled during yesterday versus the US Dollar and traded lower on a few occasions. However, the ETH buyers appeared later and....

Ethereum price extended the downside move against the US Dollar to test $11.50. Let’s see if the price can recover moving ahead or not. Key Highlights. ETH price declined further versus the US Dollar, and traded as low as $11.46. There is a new short-term bearish trend line formed on the hourly chart (data feed via SimpleFX) of ETH/USD, which may provide a relief rally. The pair is finding support near $11.50, which may produce a bounce in the short term. Ethereum Price Resistance. Ethereum price broke down further as sellers remained in action. There was a break below the $11.60 support....

Ethereum has been attempting to reclaim the $2,800 level for days, but bears continue to apply selling pressure, keeping the price below this key resistance. Despite this, demand remains strong, with bulls successfully holding ETH above the crucial $2,600 support level. The short-term outlook for ETH remains uncertain, as investors speculate on whether the current consolidation phase will lead to a breakout or further declines. Related Reading: On-Chain Metrics Reveal The Most Critical Resistance For Bitcoin – Can BTC Break $97.5K? Despite this, there is a growing sentiment that Ethereum....

Ethereum price is currently attempting to recover against the US Dollar as ETH/USD faces a major hurdle on the upside at $10.10. Key Highlights. ETH price after declining towards $9.44 against the US Dollar found support. The price is currently recovering, and facing sellers near a bearish trend line formed on the hourly chart (data feed via SimpleFX) of ETH/USD. The ETH buyers need an encouragement in gaining strength to overcome hurdles on the upside. Ethereum Price Resistance. This past week we saw how there was a decline in ETH price from the $10.80 level to $9.50 area against the US....

Ethereum price weakened against the US Dollar, and moved towards $11.00. It looks like selling remains a preferred option in the short term. Ethereum price continued to struggle to move above the 100 hourly simple moving average, and finally moved down. There was a contracting triangle pattern formed on the hourly chart (data feed via Kraken) of ETH/USD, which was broken to clear the way for more declines. I highlighted in yesterday’s post that selling with a break remains a good deal and it paid. The price moved down and traded towards the $11.00 support area. ETH is currently attempting....