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Breaking News: OG Bitcoin Whales Dumping Assets: Chart Reveals Significant Sell-Off Activity
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Breaking News: OG Bitcoin Whales Dumping Assets: Chart Reveals Significant Sell-Off Activity

Ethereum Price Technical Analysis – ETH/USD To Move Higher?

Aayush Jindal
Aayush Jindal
Last Updated: April 4, 2018 7:11 am
2 mins read
Ethereum Price Technical Analysis

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Key Highlights

  • ETH price after correcting towards the $9.10 level against the US Dollar found support and moved higher.
  • There was a bearish trend line on the hourly chart (data feed via SimpleFX) of ETH/USD, which was broken during the recent upside at $9.65.
  • The price is also above the 100 hourly simple moving average, which may now act as a support.

Ethereum price may have completed a correction against the US dollar. So, can ETH/USD move higher one more time towards $10.80?

Ethereum Price Support

There was a correction from the $11.42 initiated in in ETH price against the US Dollar. The price traded lower and traded near the swing low of $9.10. Later, the price stated recovering, and moved above the 23.6% Fib retracement level of the last decline from the $11.42 high to $9.08 low. It opened the doors for more gains ETH/USD, and pushed the pair higher.

The upside move was such that there was a break above a bearish trend line on the hourly chart (data feed via SimpleFX) of ETH/USD. The price also moved above the 100 hourly simple moving average. At the moment, the upside move is finding resistance near the 50% Fib retracement level of the last decline from the $11.42 high to $9.08 low. So, there is a chance of a minor dip in the short term before the price attempts to trade higher one more time.

Ethereum Price Technical Analysis

On the downside, the 100 hourly simple moving average may now act as a support. Moreover, the broken trend line might also provide bids near the $9.65-9.75 area. One may even consider buying dips as long as the price is above the $9.55 level.

Hourly MACD – The MACD is now back in the bullish zone, and showing positive signs.

Hourly RSI – The RSI is also above the 50 level, which is a bullish sign.

Major Support Level – $9.65

Major Resistance Level – $10.25

 

Charts courtesy – SimpleFX

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Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

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From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

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Reason to trust

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Created by industry experts and meticulously reviewed
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