Key Highlights Ethereum price after completing a short-term downside move regained the bullish bias and started to move higher. There is a two point divergence trend line forming on the hourly chart (data feed via Kraken), which can be tested in the near term. The price might head higher to trade near $14.20-50 where it could face some offers. Ethereum price started to move higher. And, if the bulls remain in action there is a chance of a retest of the $14.20-50 resistance area. Ethereum Price – Buying? Ethereum price declined in the 3rd wave to trade near the $12.00 support area, which acted as a perfect buy zone and pushed the price back higher. The price is currently under a minor divergence, suggesting more gains. There is a two point resistance trend line…
Key Highlights Ethereum price moved down a couple of points as forecasted in yesterday’s post. The bearish candles as highlighted on the daily chart played well and pushed the price down towards the $10.50 as forecasted. There is a bullish trend line formed on the hourly chart (data feed via Kraken), acted as a barrier for the bears and preventing a downside move. Ethereum price moved down as a part of a correction. It also spiked below a support trend line on a couple of occasions, but failed to close below it. Ethereum Price – What’s next? Ethereum price after setting a short-term top near the $15.16 level traded down and my idea that the price may correct down worked perfectly. There were a couple of bearish signs for the price noted yesterday, which played…
Key Highlights Ethereum price climbed higher further and established a new high of $15.16 where there was a strong reaction. The last couple of 4-hours candles look bearish, which poses a risk of a downside move. There is a bullish trend line formed on the 4-hours chart (data feed via Kraken), which may act as a pivot area in the near term. Ethereum price looks like created a short-term top. A move below the $12.00 area may take the price towards the $10.50 support area. Ethereum Price – Larger Correction Likely Towards $10.50? Ethereum price spiked on more time during the past couple of sessions, and traded as high as $15.16. There was a strong selling pressure noted around the stated level that took the price down. The last couple of 4-hours candles are very…
Key Highlights Ethereum price moved back higher and broke the bearish trend line as highlighted in the last technical analysis. Our buying with a break above the trend line resistance area idea worked, and the price reached our initial buy target. There is a bullish trend line forming on the hourly chart of Ethereum price (data feed via Kraken), which can be seen as a buy zone moving ahead. Ethereum price moved higher and broke the $5.20 resistance area. Looking ahead, if buyers remain active more gains are likely. Ethereum Price – Buy dips? Ethereum price corrected this past week, but found support near the $4.00-10 area where buyers successfully defended any further losses. There was a bearish trend line formed on the hourly chart of Ethereum price (data…
Key Highlights Ethereum price corrected a few points as forecasted in yesterday’s post to present a nice buying opportunity. The price found support near the 100 hourly simple and traded back higher to complete the buy trade idea. The price is again moving down and finding bids near a bullish trend line formed on the hourly chart (data feed via Kraken), which holds the key in the near term. Ethereum price dipped, and traded higher once again. However, it looks like the $12.00 area is proving to be a major resistance area. Ethereum Price – Careful Buying Moving Ahead Ethereum price continued to remain in the bullish zone, and traded higher a couple of times. There was a minor correction intraday to present a buying opportunity. The price found support near the 100…