Tag Archives: ETH Analysis

Bitcoin Bitcoin saw an impressive 20% price hike this week as it reached the $40K resistance level. The cryptocurrency penetrated above a descending wedge formation last Thursday and continued above the 20-day MA level last Friday. Since breaking the wedge, BTC surged higher inside an ascending price channel as it broke the 50-day MA level for the first time since May and continued to hit the $40k resistance. It did spike above $40K, reaching $40,500 (bearish .382 Fib) but...

ETH/USD – Ether Struggles WIth July Resistance @ $2340 Key Support Levels: $2250, $2150 – $2130, $2070.Key Resistance Levels: $2340, $2400, $2530. Ethereum is surging on the back of BTC rising almost 30% this week. The cryptocurrency managed to break the 50-day MA over the weekend and continued higher from hitting resistance at a descending trend line on Monday. Since then, ETH has struggled to break resistance at around $2340, provided by a bearish .236 Fib Retracement...

ETH/USD – Can ETH Break the 50-day MA Resistance Key Support Levels: $2100, $2035 – $2000, $1960. Key Resistance Levels: $2165, $2200, $2250. Ethereum rebounded from support at $1710 (June lows) earlier this week, as it quickly surged back above $2000 on Wednesday. It then continued to surpass the 20-day moving average (MA) line and the 200-day MA, on Friday, along with breaking above a descending trend line that dates back to the start of June. Yesterday, ETH managed to...

Bitcoin Bitcoin saw a slight 2.3% price hike this week as it trades near $32,500. The cryptocurrency saw a very interesting week in which it spiked lower and produced a daily candle beneath $30K. It quickly rebounded from there and broke back above 30K to reach the 20-day MA at around $32,700. In doing so, BTC is now above a long-term descending wedge that it has been trading inside since mid-May. The coin was trading inside a descending triangle pattern at the start of the...

ETH/USD – Ether Creates Fresh July Low and Retests $1800 Support Key Support Levels: $1800, $1710, $1625.Key Resistance Levels: $1888, $2000, $2035 Ethereum is feeling the bearish pressure from the Bitcoin price drop as it sinks toward $1800 again. The coin failed to break resistance at the 50-day MA around $2340 earlier in the month and has been declining ever since. The bulls were battling to hold support around $1880 over the weekend, but today’s price drop pushed ETH as...

Bitcoin Bitcoin dropped by 3% this week, reaching as low as $31,000. The cryptocurrency popped above the 20-day MA on Sunday but quickly reversed and dropped beneath it on Monday. It found support mid-week at $32,700 but continued beneath there yesterday to reach $31,185 (downside 1.618 Fib Extension) today. The short-term chart provides a closer perspective of what is going on. It shows BTC trading inside a falling price channel since the start of July. When BTC broke the...

ETH/USD – Ether Retests Critical $2k Support Key Support Levels: $2035 – $2000, $1888, $1710.Key Resistance Levels: $2120, $2200, $2340. Ethereum is starting to struggle again as it falls into critical support around $2000. It was performing well at the start of the month but failed to break resistance at $2340, provided by a bearish .236 Fib Retracement & the 50-day MA level. Last week, it dropped from the 50-day MA to land into the support at 20-day MA at $2120, where...

Bitcoin After another volatile week, Bitcoin is currently down 2% on the weekly. BTC rebounded from $33K on Monday and pushed higher to meet the upper angle of a symmetrical triangle pattern, as seen on the charts below. Unfortunately, BTC could not break out and quickly rolled over from there into $33,520 support on Tuesday. After another failed retest of the upper angle on Wednesday (at $35K), BTC heavily rejected and broke to the downside. Since the breakdown of the...

ETH/USD – Ether Forms Short Term Rising Wedge Key Support Levels: $2200, $2100, $2035 – $2000.Key Resistance Levels: $2340, $2400, $2440. Ethereum has seen a promising start to July as it breaks above the 20-day MA and heads above $2200. The cryptocurrency now faces resistance at $2340, provided by a .236 Fib Retracement, and is trading above a rising trend line. The rising trend line also forms the lower angle of a rising wedge formation on the 4-hour chart. Typically,...

ETH/USD – New 16-Day High. Key Support Levels: $2300, $2250, $2130. Key Resistance Levels: $2350, $2440, $2540, $2640. Ethereum rebounded from support at $1700 (mid-March support) at the beginning of last week and surged into resistance at $2300 (bearish .5 Fib) on the first day of July. However, the second-largest crypto quickly got rejected and found support on top of the $2K mark on Friday. Over the weekend, ETH managed to break back above the 20-day MA (yesterday) and,...