Ethereum Price Weekly Analysis – Can ETH/USD Overcome This?

Key Highlights

  • ETH price is trading nicely above the $1000 level and is moving positively against the US Dollar.
  • There is a monster bearish trend line acting as a resistance at $1150 on the 4-hours chart of ETH/USD (data feed via SimpleFX).
  • The pair has to settle above $1150 and the 100 simple moving average (4-hours) to gain traction.

Ethereum price has recovered nicely against the US Dollar and Bitcoin. ETH/USD now has to break the $1150 and $1180 level to gain further momentum.

Ethereum Price Resistance

There was a slow and steady recovery initiated from the $750 swing low in ETH price against the US Dollar. The price gained traction and was able to move above the $900 resistance level. There was also a break above the 23.6% Fib retracement level of the last decline from the $1415 high to $753 low. There are many positive signs on the chart above $1000. However, the price is currently facing a major upside barrier near $1150 and $1180.

There is a monster bearish trend line acting as a resistance at $1150 on the 4-hours chart of ETH/USD. The trend line resistance at $1150 is also near the 100 simple moving average (4-hours). Moreover, the 61.8% Fib retracement level of the last decline from the $1415 high to $753 low is at $1162. Therefore, there are many resistances on the upside around the $1150-1180 levels. Once there is a break and close above $1180, there can be more gains in the near term.

Ethereum Price Weekly Analysis ETH USD

The next major resistance would be the 76.4% Fib retracement level of the last decline from the $1415 high to $753 low at $1259. On the downside, an initial support is at $1000. However, the most important support is now forming at $900.

4-hours MACD – The MACD is about to move back in the bullish zone.

4-hours RSI – The RSI is currently just above the 50 level.

Major Support Level – $1000

Major Resistance Level – $1180

 

Charts courtesy – SimpleFX

Subscribe to our newsletter

Key Highlights

  • ETH price started a decent upside recovery after trading as low as $753 against the US Dollar.
  • There is a major bearish trend line with resistance at $1065 on the hourly chart of ETH/USD (data feed via SimpleFX).
  • The pair is struggling to break the $1070 and $1085 resistance levels and is slowly moving down.

Ethereum price is facing an uphill task against the US Dollar and Bitcoin. ETH/USD needs to clear the $1070 and $1085 resistance levels to gain upside momentum.

Ethereum Price Resistance

Yesterday, we saw the start a decent upside recovery from the $753 swing low in ETH price against the US Dollar. The price succeeded in moving past the $800 and $1000 resistance levels. There was also a break above the 38.2% Fib retracement level of the last major decline from the $1375 high to $753 low. It cleared the path for more gains, but the price seems to be struggling to move above the $1070 and $1085 resistance levels.

There is also a major bearish trend line with resistance at $1065 on the hourly chart of ETH/USD. The trend line resistance is also around the 50% Fib retracement level of the last major decline from the $1375 high to $753 low. Therefore, the $1065 resistance level is very crucial for further upsides. More importantly, the 100 hourly simple moving average is positioned near $1085 to act as a key barriers for buyers. Once there is a proper close above the $1085 level and the 100 hourly SMA, the price may gain bids.

Ethereum Price Technical Analysis ETH USD

On the downside, an initial support is at $900. However, the current price is slightly bearish below $1065. If the pair fails to move above $1065, it could decline back toward $800.

Hourly MACD – The MACD is once again attempting to move into the bearish zone.

Hourly RSI – The RSI is now below the 50 level and is heading lower.

Major Support Level – $900

Major Resistance Level – $1065

 

Charts courtesy – SimpleFX

Key Highlights

  • Ethereum classic price declined sharply before forming a short-term low at $22.05 against the US dollar.
  • There is a crucial bearish trend line forming with resistance at $34.00 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
  • The pair is currently recovering, but it is facing a major resistance near the $32.00 area.

Ethereum classic price recovered recently after a major decline against the US Dollar and Bitcoin. ETC/USD is correcting higher, but it is finding offers around $32.00.

Ethereum Classic Price Upside Hurdles

There were continuous declines in ETC price as it moved below the $30.00 support against the US dollar. The price even broke the $25.00 support and traded toward the $22.00 level. A low was formed at $22.05 from where an upside correction was initiated. It has moved above the 23.6% Fib retracement level of the last decline from the $47.29 high to $22.05 low.

However, there are many resistances on the upside starting with $31.60. The 38.2% Fib retracement level of the last decline from the $47.29 high to $22.05 low is at $31.60 to prevent upsides. Moreover, there is a crucial bearish trend line forming with resistance at $34.00 on the hourly chart of the ETC/USD pair. Above the trend line resistance, the 100 hourly simple moving average is around $36.00. An intermediate resistance is the 50% Fib retracement level of the last decline from the $47.29 high to $22.05 low.

Ethereum Classic Price Technical Analysis ETC USD

Therefore, there are clear hurdles near $32.00 and $34.00. It won’t be easy for buyers to break both levels and move above $35.00 in the near term. On the downside, an initial support is at $25.00, followed by the last swing low of $22.00.

Hourly MACD – The MACD for ETC/USD is slowly moving back in the bearish zone.

Hourly RSI – The RSI for ETC/USD is moving down towards the 50 level.

Major Support Level – $25.00

Major Resistance Level – $34.00

 

Charts courtesy – Trading View, Kraken

Key Highlights

  • ETH price declined heavily and moved toward the $700 level before recovering against the US Dollar.
  • Yesterday’s highlighted connecting bearish trend line was broken at $1020 on the hourly chart of ETH/USD (data feed via SimpleFX).
  • The pair may continue to move higher, but is likely to face sellers near the $1090 and $1135 levels.

Ethereum price started a recovery after a major decline against the US Dollar and Bitcoin. ETH/USD is currently facing a major resistance near $1100.

Ethereum Price Resistance

There was a sharp decline in ETH price below the $900 level against the US Dollar. The price traded below the $850 and $800 support levels. It traded toward the $750 level and formed a low at $755.82. Later, an upside correction was initiated and the price recovered above the $900 level. There was a break of the 38.2% Fib retracement level of the last drop from the $1374 high to $755 low.

It has opened the doors for more gains and the price moved above $1000. During the upside, yesterday’s highlighted connecting bearish trend line was broken at $1020 on the hourly chart of ETH/USD. The pair gained pace and is currently trading near the 50% Fib retracement level of the last drop from the $1374 high to $755 low. A break above the $1050-1065 levels won’t be easy. Should there be a break above $1065, the next major resistance levels are $1090 and $1135.

Ethereum Price Technical Analysis ETH USD

Both $1090 and $1135 are crucial barriers for buyers and a break above these would be very difficult. On the downside, an initial support is around the $1020 level. Below the stated $1020 level, the price could test the $900 level, which is a major support.

Hourly MACD – The MACD is about to move back in the bullish zone.

Hourly RSI – The RSI succeeded in moving above the 50 level, which is a positive sign.

Major Support Level – $1020

Major Resistance Level – $1135

 

Charts courtesy – SimpleFX

Companies and their investors who have jumped on the cryptocurrency and blockchain bandwagon are discovering the other side of aligning their image to digital currency. During the bullish 2017 market, firms who announced support for Bitcoin, or included blockchain in their branding or business models, experienced sharp rises in their stock price. However, following the news that a crypto clampdown might be soon underway in Asia, the fear and uncertainty surrounding the markets of Bitcoin and its close cousins has spread to traditional stocks associated with the emerging asset class.

Payment processing company Square integrated Bitcoin buying and selling functionality to their app late last year. Following the news, the price of their shares immediately shot up. However on Tuesday, as the price of Bitcoin plummeted to around $10,000, Twitter CEO Jack Dorsey’s company also lost $90 million in market value. Square ended regular trading with a valuation of $15.1 billion. This equates to a loss of around 5%.

Meanwhile, e-commerce company Overstock suffered a similar fate. They’ve been long time proponents of cryptocurrencies and were one of the earliest big names to allow their customers to pay in them. Following the sizeable correction experienced this week, the price of their stock fell 11%. They ended the trading day with a loss of around $200 million. This put their market capitalisation at $1.8 billion.

However, it’s not just these larger names that have been affected by the downturn in the price of cryptocurrencies. Examples like Riot Blockchain (formerly Bioptix), a once-biotech company who recently moved into the crypto space lost 17% of their market cap. Meanwhile Eastman Kodak, the camera manufacturing giant, recently announced that they would offer their own cryptocurrency known as Kodakcoin. The news sent their stock price soaring 60% on the day it was announced. However, yesterday they too suffered 8% losses.

Typically, the South Korean and Chinese cryptocurrency markets have been some of the planet’s largest. It’s therefore not surprising that fear of government hostility towards digital currencies there would create such a downturn across almost all blockchain-based coins. No doubt that cryptocurrency naysayers around the globe will be busy penning yet more Bitcoin obituaries to add to the ever-growing list of times that Bitcoin “died”.

Key Highlights

  • ETH price declined sharply and traded below the $1100 and $1000 support levels against the US Dollar.
  • There is a new connecting bearish trend line forming with resistance at $1060 on the hourly chart of ETH/USD (data feed via SimpleFX).
  • The pair is currently under a lot of bearish pressure and it could remain below the $1100 level.

Ethereum price made a sharp U-turn against the US Dollar and Bitcoin. ETH/USD is recovering, but it is struggling to break the $1100 resistance.

Ethereum Price Decline

There were further bearish pressures on ETH price as it moved below the $1100 support against the US Dollar. The decline was such that the price even failed to respect the $1000 support. The price fell even below $900 and traded as low as $858.12. It seems like there is a lot of bearish pressure since the price broke the $1100 support area. It is currently recovering and moved above the 23.6% Fib retracement level of the last decline from the $1373 high to $858 low.

However, the upside move is protected by the previous support at $1100. Moreover, the 50% Fib retracement level of the last decline from the $1373 high to $858 low is also acted as a resistance. At the moment, there is a new connecting bearish trend line forming with resistance at $1060 on the hourly chart of ETH/USD. The pair is once again showing bearish signs below $1000 and it may decline back toward $900 in the near term. If buyers fail to hold the $900 support, there can be a retest of the last swing low of $858.

Ethereum Price Technical Analysis ETH USD

On the upside, a proper close above the $1100 level is needed for buyers to gain traction in the near term.

Hourly MACD – The MACD is now strongly placed in the bearish zone.

Hourly RSI – The RSI is showing a lot of bearish signs and is below the 50 level.

Major Support Level – $900

Major Resistance Level – $1100

 

Charts courtesy – SimpleFX

Key Highlights

  • Ethereum classic price after a decent upside move faced sellers near $47-48 against the US dollar.
  • There is a declining channel forming with resistance at $40.50 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
  • The pair may continue to move down and it could test the $34.00 or even $32.00 support area.

Ethereum classic price is under pressure against the US Dollar and Bitcoin. ETC/USD may correct further towards the $32.00 level in the near term.

Ethereum Classic Price Resistance

After a major upside move above the $45.00 level, ETC price faced offers against the US dollar. The price traded as high as $47.29 and later started a downside move. It traded below a few key support levels such as $45.00 and $40.00. There was a break below the $38.00 pivot and the price settled below the 100 hourly simple moving average. The recent low formed was $35.96 and the price is currently consolidating losses.

An initial resistance on the upside is around the 23.6% Fib retracement level of the last decline from the $47.29 high to $35.96 low. There is also a declining channel forming with resistance at $40.50 on the hourly chart of the ETC/USD pair. The pair may correct higher towards $40.00 and the 100 hourly simple moving average. However, it is likely to face a lot of resistances around $40.00-40.50. The 38.2% Fib retracement level of the last decline from the $47.29 high to $35.96 low is also at $40.22 to act as a hurdle.

Ethereum Classic Price Technical Analysis ETC USD

It won’t be easy for ETC buyers to break the $40.00-40.50 resistance levels. On the downside, the price may decline further towards the $34.00 and $32.00 support levels in the near term.

Hourly MACD – The MACD for ETC/USD is advancing in the bearish zone.

Hourly RSI – The RSI for ETC/USD is now placed in the oversold levels around 30.

Major Support Level – $34.00

Major Resistance Level – $40.00

 

Charts courtesy – Trading View, Kraken

Key Highlights

  • ETH price was under a lot of pressure and it declined below the $1300 and $1275 supports against the US Dollar.
  • There are two bearish trend lines forming with resistances at $1276 and $1320 on the hourly chart of ETH/USD (data feed via SimpleFX).
  • The pair is currently recovering, but it could face sellers near the $1276 and $1290 levels.

Ethereum price made a downside move against the US Dollar and Bitcoin. ETH/USD is now well below $1300 and is currently in a bearish zone.

Ethereum Price Resistances

Yesterday, we saw how there was an increase in the bearish sentiment from $1374 in ETH price against the US Dollar. The price started a new downside wave and moved below a couple of important support levels such as $1320 and $1300. Moreover, there was a break below a crucial support around the $1276 level and the price settled below the 100 hourly simple moving average.

The decline was major as the price traded towards the $1200 level. A low was formed at $1200.57 from where the price started an upside correction. It has moved above the 23.6% Fib retracement level of the last drop from the $1374.70 high to $1200.57 low. However, there are many resistances waiting on the upside around the $1276 and $1300 level. There are two bearish trend lines forming with resistances at $1276 and $1320 on the hourly chart of ETH/USD. The first trend line is also near the 50% Fib retracement level of the last drop from the $1374.70 high to $1200.57 low.

Ethereum Price Technical Analysis ETH USD

Moreover, the $1300 resistance is near the 100 hourly simple moving average. Therefore, any major upsides may probably find sellers staring $1276 up to $1320. On the downside, the recent low of $1200 is a crucial support.

Hourly MACD – The MACD is gaining momentum in the bearish zone.

Hourly RSI – The RSI is currently well below the 50 level.

Major Support Level – $1200

Major Resistance Level – $1300

 

Charts courtesy – SimpleFX

Key Highlights

  • ETH price started a downside correction from the $1415 swing high against the US Dollar.
  • There was a break above a key bearish trend line with resistance at $1310 on the hourly chart of ETH/USD (data feed via SimpleFX).
  • The pair has to stay above the $1290-1300 levels to stay in the bullish zone for an upside move.

Ethereum price is still in the bullish zone against the US Dollar and Bitcoin. ETH/USD could continue to move higher back towards the $1360 level.

Ethereum Price Support

There was a decent movement in ETH price above the $1300 level against the US Dollar. The price started a minor downside correction after trading as high as $1415. It traded lower and moved below the $1360 and $1300 support levels. However, the downside move was protected by the $1260 level and the 100 hourly simple moving average. Later, the price started moving higher and was able to move back above the $1300 level.

There was a break above the 38.2% Fib retracement level of the last decline from the $1415 high to $1260 low. Moreover, there was a break above a key bearish trend line with resistance at $1310 on the hourly chart of ETH/USD. The pair is now trading nicely above the $1300 level and the 100 hourly simple moving average. On the downside, there is a bullish trend line with support at $1298. As long as the price is above the $1298 level and the 100 hourly simple moving average, it remains in an uptrend.

Ethereum Price Technical Analysis ETH USD

On the upside, the price has to close above the 61.8% Fib retracement level of the last decline from the $1415 high to $1260 low at $1350. The overall bias is positive above the $1298-1300 levels.

Hourly MACD – The MACD is slowly moving back in the bullish zone.

Hourly RSI – The RSI is currently just below the 50 level.

Major Support Level – $1300

Major Resistance Level – $1350

 

Charts courtesy – SimpleFX

Key Highlights

  • ETH price extended its gains and was able to move above $1400 against the US Dollar.
  • There was a break above a major descending channel with resistance at $1230 on the 4-hours chart of ETH/USD (data feed via SimpleFX).
  • The pair might continue to extend its gains above the $1400 level in the near term.

Ethereum price is in a major uptrend against the US Dollar and Bitcoin. ETH/USD broke the $1400 level and it is likely to extend gains going forward.

Ethereum Price Rise

This past was overall positive for ETH price as it remained supported above $1200 for more gains against the US Dollar. There was a dip towards the $1079 level where buyers appeared and protected losses. Later, a new upside wave was initiated and the price was able to move back above the $1200 and $1250 levels. The rise in ETH was excellent as it managed to move above the $1400 level and traded to a new all-time high at $1412.82.

During the upside move, there was a break above a major descending channel with resistance at $1230 on the 4-hours chart of ETH/USD. At the moment, the price is correcting lower and is trading below the $1400 level. An initial support on the downside is around the 23.65% Fib retracement level of the last wave from the $1079 low to $1412 high. It seems like the price is placed nicely in the bullish zone above $1300 and it is very likely to move back above $1400 for more gains.

Ethereum Price Weekly Analysis ETH USD

On the downside, the most important support is around the 50% Fib retracement level of the last wave from the $1079 low to $1412 high at $1245. The same $1245 level acted as a resistance level and it may act as a buy zone in the near term.

4-hours MACD – The MACD is nicely moving in the bullish zone.

4-hours RSI – The RSI is currently near the 65 level with bullish signs.

Major Support Level – $1245

Major Resistance Level – $1400

 

Charts courtesy – SimpleFX