Ethereum Price Technical Analysis – ETH/USD Trading Positive

Ethereum Price Technical Analysis – ETH/USD Trading Positive

Key Highlights ETH price regained the bullish traction against the US Dollar, and moved above the $10.20 level. Yesterday’s highlighted connecting bearish trend line on the hourly chart (data feed via SimpleFX) of ETH/USD was broken to clear the way for more upsides. The price traded as high as $10.27 before starting a correction or we can say consolidation. Ethereum price traded higher intraday and moved past $10.20 against the USD. Let’s see if ETH/USD can gain more traction today or not. Ethereum Price Upside Move There was a start of an upside move in ETH price against the US Dollar yesterday, as the price moved higher. Later, there was further strength noted, taking the price above the $10.00 and $10.20 levels. The price managed to break the 61.8% Fib...

Ethereum Price Technical Analysis – ETH/USD Resistance Turned Support

Ethereum Price Technical Analysis – ETH/USD Resistance Turned Support

Key Highlights ETH price corrected lower further against the US Dollar, but found support near $9.60. There is a connecting bearish trend line formed on the hourly chart (data feed via SimpleFX) of ETH/USD, which is currently acting as a resistance near $10.05. The price remains supported on the downside, as an earlier resistance is now acting as a barrier for sellers near $9.60. Ethereum price dived yesterday towards $9.60 against the US Dollar, but found support, and it looks like ETH/USD may attempt to trade higher. Ethereum Price Resistance There was a downside extension yesterday in ETH price against the US Dollar, taking it towards the $9.60 area. The stated level acted as a support and prevented the downside move. It is important to note that earlier, the...

Ethereum Price Technical Analysis – ETH/USD Strength Short-lived

Ethereum Price Technical Analysis – ETH/USD Strength Short-lived

Key Highlights ETH price managed to trade higher above $10.20 against the US Dollar, but failed to hold gains. There was a bearish trend line (as highlighted in yesterday’s post) on the hourly chart (data feed via SimpleFX) of ETH/USD, which was cleared for an upside move. The price traded as high as $10.37 where it found sellers and moved down. Ethereum price after an upside move towards $10.40 versus the US Dollar failed. ETH/USD is now back trading below $10.20 with support near $9.60. Ethereum Price Failed Upside? Yesterday, there were a few bearish signs for ETH price against the US Dollar, but later it found support and started moving higher. The upside move was strong, as the price moved past a couple of important resistance levels. First, the 50% Fib...

Ethereum Price Technical Analysis – ETH/USD Bearish Signs Emerge

Ethereum Price Technical Analysis – ETH/USD Bearish Signs Emerge

Key Highlights ETH price traded a touch lower against the US Dollar, and closed below the $9.50 support area. Yesterday’s ascending channel pattern on the hourly chart (data feed via SimpleFX) of ETH/USD was broken to clear the way for more downsides. There is a bearish trend line on the same chart, acting as a resistance near $9.45. Ethereum price is currently moving down against the US Dollar, and it looks like the ETH/USD pair is slowly moving into the bearish zone. Ethereum Price Resistance Yesterday, we saw how ETH price was trading in an ascending channel against the US Dollar. However, the price failed to hold the support area, and moved down below $9.50. The most important point was the fact that the price also broke the ascending channel pattern on the...

Ethereum Price Technical Analysis – ETH/USD About To Rise?

Ethereum Price Technical Analysis – ETH/USD About To Rise?

Key Highlights ETH price managed to remain above the $9.40 support area against the US Dollar, and may trade higher. There is an ascending channel pattern formed on the hourly chart (data feed via SimpleFX) of ETH/USD, which taking the price higher. The price is currently above the 100 hourly simple moving average, which is a positive sign. Ethereum price looks like trading above a channel support against the US Dollar, and ETH/USD may continue to slowly rise higher. Ethereum Price Support Zone There was a rise towards $9.90 in ETH price against the US Dollar recently where it found sellers, and started a downside move. There was a dip below the 50% Fib retracement level of the last wave from the $9.00 low to $9.88 high. It ignited a downside wave towards the...