Price Analysis: Ethereum Support Looks Broken
Fortunately, last night’s decision to buy bitcoin at around $658 turned out to be quite profitable, up around $30 in under a day. I have not closed that position as I expect that asset to go up quite a bit higher over the next two weeks. Today I want to take another look at ethereum. We last looked at this asset two or three days ago. At that time price was sitting at the top of the square, and also right on the 1×2 Gann angle. I noted that it seemed to have strong support at that level. Because price was sitting exactly on support, I pointed out that this gave us the luxury of placing a....
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Ethereum Price Key Highlights. Ethereum's price recently broke below a key support area, signaling that a downtrend might be underway. Before the selloff carries on, Ethereum's price is showing signs of a correction to the broken support zone. Using the Fibonacci retracement tool on the latest swing high and low shows that the 38.2% to 50% levels line up with the broken support on Ethereum price. Support Turned Resistance. If the area of interest holds as resistance, the Ethereum price could make its way back down to the previous lows at 0.0017 BTC. The 100 Simple Moving Average also....
Ethereum Price Key Highlights. After forming a head and shoulders pattern indicated in yesterday's technical analysis article, ethereum price broke below the neckline and confirmed the potential selloff. Price also broke below the rising trend line support, adding to the downtrend signals on the 1-hour time frame. Ethereum price could have its sights set on the next visible floor around 0.0200, although a pullback to the broken neckline and trend line support might be seen. Resistance at 61.8% Fib? The 61.8% Fibonacci retracement level is closest to the broken rising trend line and is also....
Ethereum classic price fell during the past few hours and it looks like under a lot of bearish pressure versus Bitcoin at the moment. Key Highlights. Ethereum classic price finally broke down against Bitcoin and tested the 0.00218BTC support. There was a close below yesterday’s stated support area of 0.00225BTC in ETC/BTC. The same broken support area may now act as a resistance if the price moves higher from the current levels. Ethereum Classic Price Resistance. Ethereum classic price as seen trading in a range against Bitcoin before the price started moving down. Yesterday’s highlighted....
Ethereum Price Key Highlights. Ethereum price has been able to sustain its downside momentum from yesterday's break below the symmetrical triangle support visible on the 1-hour chart. Price has made its way to the next support area around 0.00240BTC, which coincides with its lows last month. Ethereum price is currently under heavy selling pressure after having broken below its short-term consolidation pattern, with sellers likely to have enough energy to push for new record lows. Another pullback possible? Ethereum price made a quick bounce upon testing its record lows, signaling that a....
Ethereum Price Key Highlights. Upon breaking below the bottom of the rising wedge consolidation pattern recently, ethereum price has its sights set on new lows. Technical indicators suggest that the selloff is gaining traction but that a pullback to the broken support zones might still be possible. Ethereum price is eyeing further downside and might be ready to test the yearly lows as seen on the 4-hour time frame. Bearish Pressure Rising. Bitcoin price has broken to the upside of its consolidation pattern, which may have been partly to blame for the downside break in ETHXBT. The chart....