Ethereum (ETH) Price Testing Key Support: $250 Holds The Key
ETH price started a downside correction after trading towards the $265 level against the US Dollar.
The price declined below the $255 level, but the $250 support area is acting as a support.
There is a key bullish trend line forming with support near $253 on the hourly chart of ETH/USD (data feed via Kraken).
The pair must stay above the $250 pivot level to start a fresh increase in the near term.
Central Bankers Ready to Boost Bitcoin Price Sky-High; Here’s Why
Friday September 13, 2019
According to its proponents, the value proposition of Bitcoin (BTC) was dramatically accentuated on Thursday, when central bankers continued their march towards debasement and uncharted monetary territory. Related Reading: Bitcoin’s Next Bull Run May...
The post Central Bankers Ready to Boost Bitcoin Price Sky-High; Here’s Why appeared first on 12bitplay - Bitcoin Play.
Ethereum price corrected lower below $260 and $255 versus the US Dollar, but it was stable vs bitcoin. ETH price is likely to bounce back above $260 as long as it is above the $250 support.
Ethereum Price Analysis
Recently, there was a sharp upward move in Ethereum price above the $250 and $255 resistances against the US Dollar. The ETH/USD pair even broke the $260 level and settled above the 100 hourly simple moving average. Finally, the price traded towards the $265 level and recently started a downside correction. A swing high was formed at $264 and the price declined below the $260 support.
There was a break below the 23.6% Fib retracement level of the last wave from the $237 swing low to $264 high. However, the $252 level acted as a strong support. Moreover, there is a key bullish trend line forming with support near $253 on the hourly chart of ETH/USD. The 100 hourly SMA is also acting as a support near the $252 area. Besides, the 50% Fib retracement level of the last wave from the $237 swing low to $264 high is at $251.22 to act as a support.
The main barrier is near the $250 level, below which the bulls could lose control. In the mentioned case, the price may perhaps slide towards the $244 level. It represents the 76.4% Fib retracement level of the last wave from the $237 swing low to $264 high.
On the upside, an initial resistance is near the $256 level. If there is a break above $256 and $258, the price could move further higher. The main resistance is near the $264 and $265 levels, above which the price is likely to test $270.
Ripple Price (XRP) Retreating From $0.32 But Approaching Supports
Thursday September 19, 2019
Ripple price extended gains and traded towards the $0.3250 resistance area against the US dollar. The price is currently correcting sharply and is trading below the $0.3000 support area. There was a break below...
The post Ripple Price (XRP) Retreating From $0.32 But Approaching Supports appeared first on 12bitplay - Bitcoin Play.
Looking at the chart, Ethereum price is clearly trading near a couple of important supports near $252 and $250. As long as the price is above $250, it is likely to start a fresh upward move in the coming sessions.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is currently gaining momentum in the bearish zone, with negative signs.
Hourly RSI – The RSI for ETH/USD is now back below the 50 level, with a few positive signs.
Major Support Level – $250
Major Resistance Level – $260
The post Ethereum (ETH) Price Testing Key Support: $250 Holds The Key appeared first on NewsBTC.
Altcoins Awaken, What Has Driven The Epic XRP Surge?
Wednesday September 18, 2019
In a rare move this year the altcoins have taken off today and their big brother has stalled its engine. Specifically Ripple’s XRP and payments token Stellar Lumens are driving the rally as total...
The post Altcoins Awaken, What Has Driven The Epic XRP Surge? appeared first on 12bitplay - Bitcoin Play.