Key Highlights Ethereum price moved down as forecasted against the US Dollar and all targets of the sell trade were achieved. Yesterday’s I highlighted that the price may spike down close to the $8.10-00 support area, which happened recently. The highlighted bearish trend line on the hourly chart (data feed via Kraken) of ETH/USD played its part well in pushing the price down. Ethereum price hit the final sell target of $8.00. Moving ahead, it is wise to wait for the next move as there may be a minor consolidation underway. Ethereum Price May Range Trade? Ethereum price ETH moved just as forecasted in my yesterday’s post in which I stated that there is a chance of the price moving down close to the $8.00 level. There was a downside thrust, and ETH/USD formed a…
Key Highlights Ethereum price created a new weekly low as forecasted in my yesterday’s technical analysis post. The highlighted bearish trend line on the hourly chart (data feed via Kraken) of ETH/USD continued to act as a barrier for the bulls and pushed the price down. It looks like the price may spike down one more time to test the $8.10-00 support area where the bulls may take a stand. Ethereum price moved down as forecasted to create a new low. It looks like one more push down is possible as long as the trend line resistance holds. Ethereum Price – Test of $8.10? Ethereum price ETH continued to struggle and my view of it moving down further paid well. I think it’s time to book profits if you are trading conservative. For aggressive traders, I suggest to move…
Key Highlights Ethereum price climbed higher against the US Dollar recently and even managed to close above the $9.00 level. ETH/USD is currently trading near a bearish trend line formed on the hourly chart (data feed via Kraken), which may act as a catalyst for the next move. Looking at the technical indicators, there is a chance of ETH gaining traction in the short term. Ethereum price traded with a bullish bias recently. If we consider the current price action, then ETH/USD may move higher in the near term. Ethereum Price – Trend Line Break and Buy? Ethereum price ETH showed once again that it’s not out of woods yet. There was a minor upside reaction during the past couple of sessions, as ETH/USD traded as high as $10.00 where it found offers. The price moved…
Key Highlights Ethereum price managed to pop higher once again and traded above a major resistance area. There was a crucial bearish trend line formed on the 4-hours chart (data feed via Kraken) of ETH/USD, which was broken recently by ETH bulls. The price is still below the 100 simple moving average (H4 chart), and currently struggling to break it. Ethereum price may gain further in the short term. ETH bulls have to break the 100 SMA resistance area for a move towards $10.50. Ethereum Price – Buy With a Break? Ethereum price ETH gained traction recently against the US Dollar and managed to climb above a major resistance area of $8.50. During the upside move, ETH/USD also broke a bearish trend line on the 4-hours chart (data feed via Kraken) to set the pace for…
Key Highlights Ethereum price continued to trade with a bullish tone intraday and it looks like it may be setting up for a one more push up. There is a resistance trend line formed on the hourly chart (data feed via Kraken) of ETH/USD, which can be seen as the next target of ETH bulls. On the downside, there is a major support area formed near $8.00, which can be seen as a buy zone. Ethereum price traded further higher, and then started consolidating gains. There is a chance of another upside move in ETH/USD moving ahead. Ethereum Price Buy Dips? Yesterday, I mentioned that there is a risk of more upsides in Ethereum price ETH against the US Dollar. The price did move a few points higher, but found sellers near a resistance trend line on the hourly chart (data…