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Breaking News: Bitcoin Outlook Post Fed's 0.25% Rate Cut: Historical Patterns And Predictions

Ethereum Price Technical Analysis – ETH/USD Remains Supported 2017-01-10

Aayush Jindal
Aayush Jindal
Last Updated: April 4, 2018 7:05 am
2 mins read
Ethereum Price Technical Analysis

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Key Highlights

  • ETH price after a minor dip yesterday moved higher against the US Dollar, but the upside was limited.
  • There is a new connecting bullish trend line formed on the hourly chart (data feed via SimpleFX) of ETH/USD, which is acting as a support near $9.80.
  • The price is also well supported near the 100 hourly simple moving average, acting as a barrier near $9.95.

Ethereum price managed to stay above a couple of important support levels against the US Dollar. It looks like ETH/USD remains buy on dips.

Ethereum Price Trend Line Support

There was no major downside in ETH price against the US Dollar, as it remained supported near $9.80. The price made a minor dip yesterday, but found bids near the 100 hourly simple moving average at $9.95. The price bounced back and moved above the 38.2% Fib retracement level of the last decline from the $11.42 high to $9.08 low. However, the upside move was also limited, as there was no real push.

The price failed to settle above $10.60, coinciding with the 61.8% Fib retracement level of the last decline from the $11.42 high to $9.08 low. The price dipped once again, but the 100 hourly simple moving average rescued. On the downside, the ETH/USD pair looks supported around the stated SMA. Moreover, there is a new connecting bullish trend line formed on the hourly chart (data feed via SimpleFX).

Ethereum Price Technical Analysis

The trend line support is around $9.75-9.80. So, if there is a dip one more time, the highlighted trend line may act as a support near $9.80. Overall, the price may continue to range trade before it attempts to move higher another time.

Hourly MACD – The MACD is slowly reducing the bullish zone, which is a slight concern.

Hourly RSI – The RSI is also attempting to close below the 50 level, which may ignite a minor dip.

Major Support Level – $9.80

Major Resistance Level – $10.60

 

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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