Key Highlights Ethereum price continued its downside slide this past week, and looks like under bearish pressure in the short term. There is a descending channel pattern formed on the hourly chart (data feed via Kraken) of ETH/USD, which may act as a catalyst for a downside move. ETH/USD may trade down towards $10.00 in the short term if the bulls fail to break the $11.00 resistance area. Ethereum price after trading towards $10.00-10 recovered. However, ETH/USD is now below a major resistance area of $11.00 that can be a sell zone. Ethereum Price – 100 SMA as Resistance Ethereum price recently struggled to trade with a positive tone, and as a result, there was a downside move taking ETH/USD towards $10.00-10. The price looks like under a bearish pressure, which…
Key Highlights Ethereum price slowly and steadily moved down this past week against the US Dollar. The price is currently trading near a critical support area, which must hold if ETHUSD has to move back higher. There is a bullish trend line formed on the 4-hours chart of Ethereum price (data feed via Kraken), which may act as a pivot zone for ETH moving ahead. Ethereum price weakened a few points this past week. Now, can it manage to recover or will it break down for more losses? Let’s try to figure it out. Ethereum Price – Trend Line Support Holds Key Ethereum price traded in a stable fashion this past week, as there were no wild swings in ETHUSD. The price was mostly seen struggling this past week, and every time there was a minor correction, bears stepped in…
Key Highlights Ethereum price after dipping towards $11.00 jumped higher once more to create a new weekly high of $12.48. It looks like buyers are struggling to keep the pace, and as a result, there was a downside reaction noted during the past couple of sessions. A bullish trend line on the hourly chart (data feed via Kraken) was broken to pave the way for more losses in the near term. Ethereum price struggled during the last couple of sessions. ETHUSD also broke a major support area and may move down from the current levels. Ethereum Price – More Losses Likely? Ethereum price traded as high as $12.48 yesterday, and it looks like it was a short-term top created. The price was seen struggling since then, and it the current trend continues, then ETHUSD may move…
Key Highlights Ethereum price after completing a correction towards $11.00 found buyers and traded back towards the $12.50 level. My buy idea worked perfectly, and all our targets were achieved successfully. There is a resistance trend line formed on the hourly chart (data feed via Kraken), which prevented additional gains above $12.50. Ethereum price moved back higher, but the upside was limited. Can it correct lower once again? Can we buy one more time? Ethereum Price – $11.00 Holds Key Ethereum price completed a correction phase around the $11.00 support area recently and our trade worked perfectly. This week I suggested that buying dips may be a good idea in ETH against the USD. The same did wonders, as the price moved higher towards the $12.50 area. Around…
Key Highlights Ethereum price moved further higher intraday and traded near $12.20 where it found sellers and started to move down. There was a bullish trend line formed on the hourly chart (data feed via Kraken), which was cleared during the downside move. The price is currently trading near the 100 hourly simple moving average, which can be seen as a major short term support area. Ethereum price is currently trading near an important support area. A break below may call for more losses, else it might move back higher. Ethereum Price – Importance of 100 SMA Ethereum price managed to move a few more points higher intraday, and traded as high as $12.19. However, ETH failed to sustain momentum, and started to move down. During the downside move, the ETHUSD pair…