Ethereum’s High Time Frame Structure Looks “Great” Due to Technical Support
Ethereum has undergone a strong correction from the 2020 highs near $490. The leading cryptocurrency currently trades for $345, down 30% from the aforementioned highs. Many investors have pointed to this correction as the start of a longer-term bearish trend for ETH. This may not be the case: analysts say that Ethereum’s long-term outlook is still positive. They cite pivotal technical factors, including but not limited to a strong set of technical levels below ETH’s […]
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Ethereum’s price has been closely tracking that of Bitcoin over the past few days and weeks This has led the cryptocurrency’s bulls and bears to reach an impasse, as both sides have been unable to spark any sustainable trend Where the market trends next will likely depend on BTC, as the cryptocurrency is currently trading between two critical levels One analyst is noting that Ethereum was rejected at a high time frame resistance level yesterday […]
Ethereum’s price is continuing its upward trend. Whether that short-term trend is a wave within a flat will be apparent after its structure is completely formed. What is the most likely scenario for a turn to decline? After fortifying at a key level of $10.4, Ethereum’s price has formed an upward impulse. The structure of the downward trend was broken at that point, and the downward movement was consequently a rebound. There is still a chance of the current upward trend turning out to be a wave within a flat. But for that to be true, the structure of the trend has to be disrupted. If a....
Bitcoin price is resuming its climb after testing the bottom of the ascending channel visible on the 1-hour chart. Bitcoin Price Key Highlights. Bitcoin price continues to trend higher on its 1-hour time frame, moving on a sharper ascending channel than before. Price just bounced off the channel support and seems to be setting its sights on the resistance around $740-750. Technical indicators are suggesting that further gains are in the cards. Technical Indicators Signals. The 100 SMA is safely above the longer-term 200 SMA on this time frame, confirming that the path of least resistance....
Bitcoin price is testing the ascending channel support visible on the 4-hour time frame and could be gearing up for another rally. Bitcoin Price Key Highlights. Bitcoin price is still trending higher on its 4-hour chart and moving inside the ascending channel previously marked. Price has pulled all the way back to the channel support around $740-745 after previously testing the yearly highs. There are several inflection points at this support zone so a bounce could be due, and technical indicators are suggesting that buyers are about to return. Technical Indicators Signals. The 100 SMA is....
Bitcoin price is still pulling back from its recent strong rallies, moving closer to the rising trend line on the daily chart. Bitcoin Price Key Highlights. Bitcoin price is still in correction mode, moving on to the lowest Fib on it daily time frame. Price appears to be finding support at the 61.8% Fibonacci retracement as a long spike formed. If bulls get back in the game, bitcoin price could resume its climb to the swing high at $775. Technical Indicators Signals. The 100 SMA is still above the 200 SMA for now, confirming that the uptrend is likely to carry on. However, RSI and....