Ethereum Price Technical Analysis – ETH Another Breakout Attempt
Ethereum price managed to gain bids one more time against the US Dollar, and currently attempting yet another upside break. Key Highlights. ETH price found buyers near $11.50 against the US Dollar, and started to move higher. During the recent upside move, it broke a bearish trend line formed on the hourly chart (data feed via SimpleFX) of ETH/USD. The pair is also above the 100 hourly simple moving average, which is a positive sign. Ethereum Price Break. Ethereum price fell yesterday back towards the $11.50 versus the US Dollar, but somehow buyers managed to protect the downside move.....
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Ethereum has finally crossed over the downward sloping resistance line, albeit on a low volume, which fails to induce any confidence in the breakout. As can be seen from the 2-hour ETH-XBT price chart taken from Kraken exchange, there is no visible surge in volume reading even after the resistance has been taken out. A major contribution in ETH/XBT price rise is the sudden collapse in Bitcoin price. A free falling Bitcoin will aid this pair. Ethereum is currently trading at 0.00240BTC. The technical picture suggests that Ethereum will face significant selling pressure 0.00283BTC even if....
Potcoin Price Key Highlights. Potcoin price continued to trade inside a flag pattern as highlighted in one of the recent technical analysis. Both buyers and sellers seem to be struggling to take the price in one particular direction, which created a range inside the flag pattern. A few technical indicators are pointing towards more losses and a break below the flag pattern. Potcoin price is trading inside a range and it looks like heading towards a break, waiting for a catalyst. Break Down? As mentioned in the previous analysis, there was a sharp decline noted in the Potcoin price which....
Ethereum has staged a strong performance over the past 24 hours, with its price rallying close to its previous all-time high. According to data from CoinGecko, ETH climbed as high as $4,837, just a touch below its 2021 peak of $4,878. The surge came after Federal Reserve Chair Jerome Powell’s speech at Jackson Hole, where he hinted that long-awaited rate cuts might be coming soon. Interestingly, Ethereum is not only performing well against the dollar but also against Bitcoin, where technical analysis shows a long-awaited structural trendline appears to be breaking in Ethereum’s favor.....
A technical analysis chart of bitcoin prices suggests that the digital currency’s value is likely to shoot higher. Technical Analysis Shows A Pennant. The technical analysis chart of Bitstamp’s recent closing prices, originally published on Sober Look, shows that a triangular pattern known to technical analysts as a pennant has formed. Can a Pennant....
Ethereum Price Key Highlights. Ethereum price is still slowly climbing, transitioning into a rising wedge formation from an earlier ascending channel. Price bounced off the mid-channel area of interest as predicted in an earlier article, reflecting increased bullish pressure. With the consolidation getting tighter and ethereum price approaching the peak of the wedge, a breakout in either direction is imminent. Waiting for Bitcoin Breakout? Bitcoin is also stuck in a consolidation pattern, as traders are probably on the lookout for more catalysts. This has kept ethereum price in....