Ethereum Price Technical Analysis – ETH/USD Feeling Bitcoin Pressure
Ethereum price remained under a bearish pressure against the US Dollar and Bitcoin. Is the main reason for ETH/USD decline rising BTC? Key Highlights. ETH price after recovering a few points against the US Dollar, failed and moved down towards $7.25. Yesterday’s highlighted bullish trend line on the hourly chart (data feed via SimpleFX) of ETH/USD was broken to ignite a new intraday low. The pair is once again heading lower, and looks set to challenge the recent low. Ethereum Price Decline. Every time there is a minor correction in ETH price versus the US Dollar sellers appear and take the....
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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 can be seen trading with a bearish bias below 0.0021BTC as bitcoin arrests its decline and aims for a bounce-back. Further strengthening of bitcoin will result in more pain for the Ethereum longs. Ethereum is currently at 0.00204BTC. Image. Let us conduct technical analysis on the 4-H ETH-XBT price chart to predict the future movements in the pair. Chart Structure - If we look at the last 10 candles, it can be seen that Ethereum has been trading in a narrow range of 0.0020-0.0021BTC. The consolidation may continue for the next 48 hours, but a breakout might occur by the end of the....
Bitcoin price made a quick spike down but the uptrend remains intact as bulls look eager to defend the floor. Bitcoin Price Key Highlights. Bitcoin price was on a steady climb when it suddenly made a sharp selloff close to $1000. Price quickly recovered from this drop and resumed trading back to its previous levels. This suggests that bullish pressure is very strong and that buyers are simply waiting for cheaper levels to load up on their long positions. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA so the path of least resistance is still to the upside. In....
Bears hold complete control over Dash as the cryptocurrency continues with its spree of hitting fresh lows. In my earlier analysis on Dash, I had mentioned that the cryptocurrency is steadily losing and that it is best to stay on the short side of the trade; those who had followed this advice would have made good money (or avoided huge losses) as the cryptocurrency has plummeted to a 1-month low of 0.01231BTC. Dash is still under extreme selling pressure, languishing near the lows at 0.01254BTC. Although it is incredibly difficult to comment now as to when the ignored cryptocurrency will....
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....