• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Ethereum Price Technical Analysis
Nexo Logo

Ethereum Price Tech Analysis 3/9/2016 – Sell Target Achieved

Aayush Jindal by Aayush Jindal
6 years ago
in Cryptocurrency news, Technical analysis
Reading Time: 2 mins read
Advertisement

Key Highlights

  • Ethereum price after moving a few points higher found sellers and moved down as forecasted in yesterday’s post.
  • Yesterday’s highlighted bearish trend line on the hourly chart (data feed via Kraken) acted as a perfect sell area and pushed the price down.
  • The price has moved down, and it’s time to take profit so that we can wait for the next opportunity.

Ethereum price spiked higher yesterday. However, the price found sellers around a perfect sell zone and moved down once again.

Ethereum Price – Wait for another rally?

Ethereum price after moving down towards $8.50 managed to gain bids and traded back higher. However, I highlighted in yesterday’s post that if the price jumps higher, then we can consider selling near a bearish trend line formed on the hourly chart (data feed via Kraken). The highlighted trend line and resistance area acted as a perfect hurdle for the bulls and pushed the price back down.

The price touched the trend line and resistance and tested the 61.8% Fib retracement level of the last drop from the $11.98 high to $8.48 low. One important bearish sign to consider as of writing is the fact that the price is now back below the 100 simple moving average (hourly chart, data feed via Kraken).

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Ethereum Price Technical Analysis

On the upside, an initial resistance can now be around the 100 MA, coinciding with the 50% Fib retracement level of the last drop from the $11.98 high to $8.48 low. A break above it could take the price once again towards the highlighted trend line and resistance area where sells can be considered. On the downside, the most important support can be at $9.20-00.

Hourly MACD – The MACD is heading towards the bearish slope, which is a concern for the bulls.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Hourly RSI – The RSI is below the 50 level, which is a negative sign.

Intraday Support Level – $9.20

Intraday Resistance Level – $10.60

Read our comparison of 50 different crypto casinos. Find out who has most generous bonuses, best UX, knowledgeable customer support and best provably fair games.

 

Charts courtesy of Kraken via Trading View

Tags: ethereumethereum newsethereum priceEthereum Price analysisEthereum Price chartEthereum Price Technical Analysisethereum technical analysisethereum tradeethereum trade analysisethereum tradingethereum usdtrading
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

Related Posts

Ethereum L2 TVL Enjoys 284% Growth In The Past Month Ahead Of Goerli Merge

Ethereum L2 TVL Enjoys 284% Growth In The Past Month Ahead Of Goerli Merge

32 mins ago
bitcoin bear

Bearish Signal: Why Bitcoin Miner Sell-Offs May Continue

4 hours ago
bitcoin

Bitcoin Surge Towards $24k As CPI Report Show Inflation Cooling

4 hours ago
Crypto Bitcoin BTC BTCUSDT

Money On The Sidelines: Crypto Traders Accumulate Highest Buying Power In Two Years

8 hours ago
Ethereum

Ethereum Open Interest Nears All-Time Highs Ahead Of Merge

8 hours ago
Monero

Monero Faces Pressure In Keeping Upward Pace – Will XMR Overcome Resistance?

9 hours ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Frontnode announces future support for additional cryptocurrencies (Bitcoin, Ethereum, Cardano, XRP, Dogecoin)

August 10, 2022

Hackless Pioneers B2B & B2C Security Tool for DeFi, Saving Nearly $500,000 for Clients

August 10, 2022

RoboApe and Solana: The Best Cryptocurrencies for Supporting dApps

August 10, 2022

Chronoly.io Presale Tokens Are Selling Out Fast, Hex Coin (Hex) And Filecoin (FIL) Suffer Loses

August 10, 2022

8 BEST Cloud Mining Sites of 2022

August 10, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Bitcoin Casino Reviews

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.