Ethereum (ETH) Price Smashes Resistance, $175 Could Be Next
ETH price formed a solid support near $155 and recovered nicely against the US Dollar.
The price gained traction above the $162 resistance and the 100 hourly simple moving average.
Yesterday’s highlighted key bearish trend line was breached at $164 on the hourly chart of ETH/USD (data feed via Kraken).
The pair accelerated towards the $168 level and it may continue to rise towards the $175 level.
Bitcoin Price Could Hit $8k as Major Outward On Chain Flows Increase
Thursday September 12, 2019
As Bitcoin continues with its now tedious consolidation, analysts are still searching for the next direction. Most are siding with the bears at the moment as downwards momentum is looking more likely. One view...
The post Bitcoin Price Could Hit $8k as Major Outward On Chain Flows Increase appeared first on 12bitplay - Bitcoin Play.
Ethereum price started a fresh upward move versus the US Dollar, with positive moves in bitcoin. ETH is likely preparing for more gains and it could reach the $175 resistance.
Ethereum Price Analysis
Recently, we saw an extended downside correction below the $160 level in Ethereum price against the US Dollar. The ETH/USD pair tested the $155 level and settled below the 100 hourly simple moving average. However, the $155 level acted as a strong support and later the price started a fresh increase. Bulls gained traction above the $160 resistance and the 50% Fib retracement level of the last drop from the $170 high to $155 low.
More importantly, yesterday’s highlighted key bearish trend line was breached at $164 on the hourly chart of ETH/USD. The pair rallied above the $162 level and the 100 hourly SMA. Besides, there was a break below the 61.8% Fib retracement level of the last drop from the $170 high to $155 low. The price traded close to the $170 resistance area and formed a high near $168. It is currently consolidating gains above the broken trend line and the 100 hourly SMA. An immediate support is $165 and the 23.6% Fib retracement level of the recent wave from the $155 low to $168 high.
On the upside, a break above the $168 and $170 resistance levels may open the doors for more gains. The next stop for buyers could be $175, where sellers could appear. Having said that, if there is an upside break above $175, the price could continue to accelerate towards the $180 resistance.
Is DeFi The Future of Crypto Finance? Some Big Industry Names Think So
Wednesday September 11, 2019
The hot potato in the world of crypto at the moment is decentralized finance. Satoshi’s original notion of cutting out the bankers is now possible in this new world of digital assets and DeFi...
The post Is DeFi The Future of Crypto Finance? Some Big Industry Names Think So appeared first on 12bitplay - Bitcoin Play.
Looking at the chart, Ethereum price is showing positive signs above the $165 and $162 support levels. In the short term, there might be range moves above the $162 support. If there is an extended correction, the price could test the 50% Fib retracement level of the recent wave from the $155 low to $168 high. Finally, the price is likely to clear the $170 resistance to test $175.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD moved back in the bullish zone, with positive signs.
Hourly RSI – The RSI for ETH/USD bounced back above 50 and it is currently near the 60 level.
Major Support Level – $162
Major Resistance Level – $170
The post Ethereum (ETH) Price Smashes Resistance, $175 Could Be Next appeared first on NewsBTC.
Bitcoin Mum despite Saudi Attack Raising Demand for Haven Assets
Monday September 16, 2019
Bitcoin appeared stuck in a price-range on Monday as attacks on Saudi Arabia’s oil facilities raised concerns over global energy supply and renewed tensions in the Middle East. The spot bitcoin rate slipped 0.03...
The post Bitcoin Mum despite Saudi Attack Raising Demand for Haven Assets appeared first on 12bitplay - Bitcoin Play.