Ethereum Price Analysis: ETH/USD Pulling Up to Area of Interest

MinerGate is a multicurrency mining pool with the easiest mining software, reliable 24/7 support service and helpful community at your disposal. Start mining now from your PC

Ethereum recently tumbled below the area of interest around the $280 level to signal that a downtrend is in the works. The price might still pull up for a quick retest before continuing further south, though.


The 100 SMA is still above the longer-term 200 SMA to indicate that the path of least resistance is to the upside or that the climb is more likely to gain traction than to reverse. However, the gap between the indicators seems to be narrowing to reflect weaker bullish momentum.

The…



Source link

Related Posts

  • 56
    Bitcoin SV looks prime to resume its slide as the area of interest or former support level held as resistance. The price is closing in on the 38.2% Fibonacci extension level around $143 but could still head to the next downside targets. The 100 SMA is below the longer-term 200…
    Tags: resistance, level, sma, price, narrowing, indicators, gap, reflect, traction, gain
  • 55
    Bitcoin still seems to be in correction mode but is already forming bullish candles at the 50% level. A continuation of the climb could make it until the next upside targets marked by the Fib extension tool.The 100 SMA is above the longer-term 200 SMA to indicate that the path…
    Tags: bullish, sma, climb, upside, gain, traction, reverse, gap, indicators, reflect
  • 55
    Tron is pulling back to a broken long-term resistance level that might now hold as support. If it does, the price could head back to the next upside targets marked by the Fibonacci extension tool.The 100 SMA is above the longer-term 200 SMA to indicate that the path of least…
    Tags: sma, upside, price, resistance, retest, link, source, momentum, bullish, reflect
  • 52
    Bitcoin has formed higher lows and found resistance at the $11,500 area to create an ascending triangle on its 1-hour chart. Technical indicators seem to be suggesting that further gains are in the cards.The 100 SMA is above the longer-term 200 SMA to show that the path of least resistance…
    Tags: sma, indicators, resistance, bullish, reflect, source, gap, reverse, traction, gain
  • 48
    Bitcoin recently made a bullish break from a symmetrical triangle consolidation pattern to signal that a long-term climb is due. Price also seems to have completed a retest of the broken resistance, so bulls could take it up to the next upside targets marked by the Fib extension tool.The 100…
    Tags: upside, resistance, sma, price, bullish, gap, reverse, traction, gain, longer-term
TradingView_728x90
READ MORE  Sia Network Releases Hard Fork Code to Block Crypto Mining Giants

Leave a Reply

Your email address will not be published. Required fields are marked *