Ethereum Price Technical Analysis – ETH/USD Faces Renewed Pressure

Ethereum classic price is once again under bearish pressure against the US dollar, and looks poised for a move towards the 0.00182BTC in the short term. Key Highlights. Ethereum after creating a minor new high of 0.00206BTC versus Bitcoin started trading lower. There is a bearish trend line formed on the hourly chart of ETC/BTC (data feed via Simplefx), which is acting as a downside move catalyst. The price is also below the 100 hourly simple moving average, which is a bearish sign. Ethereum Classic Price Resistance. Ethereum classic price after maintaining a bullish bias for a few....

Ethereum price somehow remained above the $10.20 support against the US Dollar, but ETH/USD faces sellers on the upside near $10.30-10.40. Key Highlights. ETH price attempted a minor bounce against the US Dollar, but faced sellers near $10.40. There is a bearish trend line formed on the hourly chart of ETH/USD (data feed via SimpleFX), which has a resistance near $10.30. On the downside, the $10.20 low is acting as a support and preventing losses. Ethereum Price Resistance. There was a continuous selling pressure on ETH price against the US Dollar with resistance near $10.30-10.40. There....

In the conclusion of the previous Bitcoin price technical analysis And Here Comes the Rebound, I stated that the current relief rally in Bitcoin will fizzle out very soon and that the market participants should be prepared to create short positions. We have seen this happen in yesterday's trading session where attempts made by the bulls to scale higher were undone by profit booking and renewed selling pressure. Bitcoin is currently trading flat at $224, after racing to an intraday high of $231.09 and is now expected to trend lower in the coming sessions. Bitcoin will witness a greater....

Ethereum classic price is under renewed selling pressure, and it looks like it won’t be easy for the ETC buyers to attempt a correction. Key Highlights. Ethereum classic price extended its downside move against the Bitcoin, and may trade towards 0.00115BTC. Yesterday’s highlighted bearish trend line on the hourly chart of ETC/BTC (data feed via Simplefx) is still active on the upside to act as a resistance. If there is a minor rise in the short term, then the ETC sellers may appear on the upside. Ethereum Classic Price Resistance. ETC price failed to gain any sort of bids against the....

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....