Key Highlights Ethereum price started to recover after trading as low as $10.02, but facing sellers near the 100 hourly simple moving average. There is a bearish trend line formed on the hourly chart (data feed via Kraken) of ETH/USD as well, which is near the 100 SMA to increase the importance of resistance. If the trend line resistance and 100 SMA holds, a move down once more is possible Ethereum price managed to gain a few points, but struggled to break 100 SMA. Can the bulls manage to break it and take ETH/USD higher? Ethereum Price Confluence Resistance Area Ethereum price ETH showed a few positive signs during the past couple of sessions, but ETH bulls faced a tough time to break a confluence resistance area near $11.00-10. There is a bearish trend line…
Key Highlights Ethereum price weakened further and moved down against the US Dollar to trade near $10.00. I highlighted a resistance zone yesterday, which played well and ignited further losses in ETH. There is now a bearish trend line formed on the hourly chart (data feed via Kraken) of ETH/USD, which is acting as a resistance. Ethereum price faced a lot of selling pressure and moved down. However, the $10.00 support area holds the key and may produce a bounce. Ethereum Price – Trend line break possible? As mentioned, Ethereum price failed to recover yesterday, and continued to move down against the US Dollar. A new weekly low of $10.00 was formed, which provided support to ETH/USD. The price is currently making an attempt to trade higher, but facing resistance…
Key Highlights Ethereum price continued to trade lower and my suggested plan of sell with a break worked perfectly. There was a contracting triangle pattern formed on the hourly chart (data feed via Kraken) of ETH/USD, which was broken to ignite more losses. The price traded as low as $11.00, and any recovery from the current levels may face sellers near $11.50. Ethereum price weakened against the US Dollar, and moved towards $11.00. It looks like selling remains a preferred option in the short term. Ethereum Price – Sell Rallies? Ethereum price continued to struggle to move above the 100 hourly simple moving average, and finally moved down. There was a contracting triangle pattern formed on the hourly chart (data feed via Kraken) of ETH/USD, which was broken to…
Key Highlights Ethereum price after settling below the 100 hourly simple moving average continued to struggle to trade higher. There is a contracting triangle pattern forming on the hourly chart (data feed via Kraken) of ETH/USD, which may provide us the next break. As long as the price is below the 100 SMA, the chances of a break down are more moving ahead. Ethereum price is struggling to trade higher, and approaching a short-term breakout. Can sellers succeed or the bulls will overcome selling pressure? Ethereum Price – Trade with a break? Ethereum price after failing to break the $12.12 level against the US Dollar moved down, and showed a lot of bearish signs lately. The price closed below the 100 hourly simple moving average as well, which suggests that the…
Key Highlights Ethereum price is setting up for the next move against the US dollar, as ETH/USD mostly consolidated this past week. There is a bearish trend line formed on the 4-hours chart of Ethereum price (data feed via Kraken), which can act as a catalyst for the next move. The price is above the 100 simple moving average (4-hours), which is a positive sign for the bulls. Ethereum price is currently trading below a major resistance trend line. Can ETH/USD bulls break it and take the price higher. Ethereum Price – Breakout Approaching Ethereum price mostly traded in a range of $-10-12 this past week, as there was no major news event. However, the best thing, which may favor the bulls is the fact that the price closed the week above the 100 simple moving…