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…
Key Highlights Ethereum price after correcting for the past couple of days finally moved higher and showing a lot of bullish signs, plus my play of buying with a break worked. There was a bearish trend line formed on the hourly chart (data feed via Kraken), which was broken to clear the way for more gains. It looks like the bulls are back and may take the price higher if the price manages to close above the $12.00 resistance area. Ethereum price moved above a major resistance area intraday. Buying dips may be a good option in the short term as long as it is above $10.50. Ethereum Price – Buy Near 100 SMA Yesterday, I stated that if Ethereum price manages to close above the 100 simple moving average (hourly, data feed via Kraken), then we can consider a buy trade….
Key Highlights Ethereum price this past week came under a lot of bearish pressure and traded as low as $8.06. My all ideas of selling in the short term worked perfectly, and now I think it’s time to re-plan our strategy again. There is a bearish trend line formed on the hourly chart (data feed via Kraken), which can be breached for a move higher in the near term. Ethereum price looks like looking for a short-term upside ride. There is a chance of a break higher and a move towards $11.00-50. Ethereum Price – Buy Above 100 SMA? Ethereum price traded twice this past week after a minor correction. There was a lot of bearish pressure noted on the ETH bulls that ignited a downside move. My idea of selling worked twice this past week and we were on the right side. Now,…
Key Highlights Ethereum price moved a few points higher and then found sellers for a downside move. My idea of selling in the short term worked perfectly and all targets were hit intraday. Yesterday’s highlighted bearish trend line on the hourly chart (data feed via Kraken) worked perfectly and pushed the price down. Ethereum price was a perfect sell intraday as forecasted. It looks like there is a room for another downside move if all goes well. Ethereum Price – $12.50 as Resistance Ethereum price was aligned for a short-term downside move, as forecasted in yesterday’s post. I forecasted selling near a major resistance area, which was formed near a bearish trend line on the hourly chart (data feed via Kraken). The trend line resistance area acted as a perfect…
Key Highlights Ethereum price completed a move higher during the past couple of sessions and moved down. There is a bearish trend line forming on the hourly chart (data feed via Kraken), which may act as a resistance in the near term. The price is also below the 100 hourly simple moving average, which is calling for a short-term sell. Ethereum price climbed higher towards the $14.00 level as forecasted. However, there was a bearish pressure noted taking the price down. Ethereum Price – Sell near trend line? Ethereum price had a good upside run during the starting sessions yesterday as forecasted, as the price even traded close to the $14.00 level as forecasted. However, there sellers around the stated level, which pushed the price down. Currently, there is a…