Ethereum Price Technical Analysis – ETH/USD Backs Down From Resistance
Ethereum price fell sharply after testing the $7.80 resistance. It looks like a recovery in ETH/USD won’t be easy in the near term. Key Highlights. ETH price after correcting higher towards $7.80 against the US Dollar found sellers and traded lower. The downside move was prevented by a bullish trend line formed on the hourly chart (data feed via SimpleFX) of ETH/USD. The price may continue to struggle since there is a lot of selling pressure examined. Ethereum Price Support. We saw how there was a recovery in ETH price versus the US Dollar yesterday, but the price could trade higher for....
Related News
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....
Ethereum Price Key Highlights. Ethereum price has been on a downtrend on its longer-term time frames, but it looks like the tides could turn. A double bottom pattern is visible on the 4-hour chart and price is making its way up to test the neckline at 0.0040. Ethereum price could be in for a long-term uptrend if it is able to break past the neckline resistance soon. Technical Indicators In Favor Of the Bulls. The technical indicators on the 4-hour time frame support further gains in ethereum price, as the 100 SMA just crossed above the 200 SMA. This signals that the path of least....
Ethereum Price Key Highlights. Ethereum price is still stuck inside its range, finding support at 0.00285 and resistance at 0.00305. Price bounced off the bottom of the range as expected and is on its way to test the top again. Ethereum price could keep moving sideways, especially if the top of the range holds as resistance and spurs another test of support. Buyers Regaining Control. Technical indicators are suggesting that a bounce is underway, with stochastic and RSI both climbing out of the oversold region to indicate a return in bullish momentum. The average directional index is moving....
Ethereum has finally crossed over the downward sloping resistance line, albeit on a low volume, which fails to induce any confidence in the breakout. As can be seen from the 2-hour ETH-XBT price chart taken from Kraken exchange, there is no visible surge in volume reading even after the resistance has been taken out. A major contribution in ETH/XBT price rise is the sudden collapse in Bitcoin price. A free falling Bitcoin will aid this pair. Ethereum is currently trading at 0.00240BTC. The technical picture suggests that Ethereum will face significant selling pressure 0.00283BTC even if....
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....