Ethereum (ETH) Price Watch: Still Waiting for a Triangle Breakout
Ethereum Price Key Highlights
This Signal Has Preceded Some of Bitcoin’s Largest Rallies, and It Just Flashed Again
Tuesday February 18, 2020
The past few days have been turbulent for Bitcoin (BTC), with the cryptocurrency plummeting from highs of $10,500 to lows of $9,500, which is the level at which it has been able to find...
The post This Signal Has Preceded Some of Bitcoin’s Largest Rallies, and It Just Flashed Again appeared first on 12bitplay - Bitcoin Play.
Ethereum has formed lower highs and higher lows to create a symmetrical triangle pattern on its 1-hour chart.
Price is currently bouncing off support and might be due for another test of the top.
Ethereum is also nearing the peak of the triangle pattern so a breakout might take place anytime soon.
Ethereum May Incur an Intense Parabolic Surge After Visiting This Level
Friday February 21, 2020
Ethereum has begun climbing higher after facing some intense selling pressure over the past couple of days, which sent ETH from highs of $285 to lows of under $250 before it was finally able...
The post Ethereum May Incur an Intense Parabolic Surge After Visiting This Level appeared first on 12bitplay - Bitcoin Play.
Ethereum continues to consolidate in a symmetrical triangle on its 1-hour chart and might be due for a breakout soon.
Technical Indicators Signals
The 100 SMA is above the longer-term 200 SMA to signal that the path of least resistance is to the upside. This suggests that support is more likely to hold than to break or that resistance is more likely to break than to hold.
If the latter takes place, ethereum could climb by around $60 or the same height as the triangle formation. Similarly a break below support could be followed by a drop of the same height. Price appears to be finding resistance at the 100 SMA dynamic inflection point right now.
RSI is also pointing south to signal that sellers have the upper hand. A break below the 200 SMA dynamic support could signal that bearish pressure is building up and that more losses are in the cards. Stochastic is also turning lower without even hitting overbought levels,
ETHUSD Chart from TradingView
Investors seem to be on edge leading up to the SEC decision on bitcoin ETF applications as this would have big repercussions on the rest of the industry. Not only would this allow more institutional and retail money to flow in, but it would also set a precedent for other crypto-based securities. Meanwhile, analysts are also pointing to record high leveraged positions on ethereum, which could be indicative of a market extreme.
The post Ethereum (ETH) Price Watch: Still Waiting for a Triangle Breakout appeared first on NewsBTC.
Bitcoin Craters to $9,300, Liqudating $120 Million in BitMEX Longs
Wednesday February 19, 2020
It seems that Bitcoin’s plunge has accelerated since our last price update posted just minutes ago. We wrote our last update when the cryptocurrency was trading at $9,900 after sustaining a 2% drop in...
The post Bitcoin Craters to $9,300, Liqudating $120 Million in BitMEX Longs appeared first on 12bitplay - Bitcoin Play.