Ethereum Price Technical Analysis – ETH/USD Slowly Grinds Lower

Ethereum Price Key Highlights. Ethereum price seems to be recovering from its earlier drop, as it is trying to establish a new uptrend visible on its 1-hour time frame. Price is moving slowly inside an ascending channel and is currently testing support. Ethereum price might be able to sustain its short-term climb, with technical indicators and candlestick patterns suggesting a bounce. Bullish Divergence Seen. Stochastic has made a shallow bullish divergence, with price forming lower lows and the oscillator drawing higher lows. This indicator is heading higher, which suggests that ethereum....

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 grinded lower a bit against the US Dollar, and it looks like the ETH/USD pair may continue to struggle in the short term. Key Highlights. ETH price remained in a minor bearish trend versus the US Dollar, and moved down slowly. There is a small channel pattern formed on the hourly chart (data feed via SimpleFX) of ETH/USD, acting as a catalyst for the downside move. If there is a minor rise, then the 100 hourly simple moving average may act as a resistance. Ethereum Price Resistance. ETH price started a downside move after trading as high as $11.08 against the US Dollar.....

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....

Ethereum price is slowly moving lower toward the $1,585 support against the US dollar. ETH must clear the $1,650 resistance to start a recovery wave. Ethereum is struggling to stay above the $1,600 support zone. The price is trading below $1,650 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance near $1,645 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it clears the $1,650 and $1,665 resistance levels. Ethereum Price Grinds Lower Ethereum attempted a recovery wave from the $1,630 zone. ETH....