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Ethereum Price Technical Analysis – ETH/USD Struggle Continues
Key Highlights
- ETH price continues to face selling pressure below the 5 pivot level against the US Dollar.
- There are two key bearish trend lines forming with resistance around 0 on the hourly chart of ETH/USD (data feed via SimpleFX).
- The pair is currently under pressure and it is following a bearish path below 8.
Ethereum price faced a lot of selling pressure against the US Dollar and Bitcoin. ETH/USD is now below 0 and eyeing more declines.
Ethereum Price Resistance
It seems like there is no stopping sellers as ETH price declined below the 0 and 0 levels against the US Dollar. The price failed to correct substantially and faced heavy offers near 5. Moreover, the 38.2% Fib retracement level of the last drop from the 1 high to 0 also acted as a hurdle. A fresh downside wave was initiated and the price moved below the 0 support. A new low was formed at 7.30 and is currently correcting higher.
It moved above the 23.6% Fib retracement level of the last decline from the 0.54 high to 7.30 low. However, it once again faced sellers and struggled to break the 5 zone. There are also two key bearish trend lines forming with resistance around 0 on the hourly chart of ETH/USD. These trend lines are near the 38.2% Fib retracement level of the last decline from the 0.54 high to 7.30 low. Therefore, it won’t be easy for buyers to break the 0-425 resistance zone.
In short, it seems like the price is still in a downtrend below 5. It might retest the last swing low of 7 in the short term. Below 7, the price could accelerate decline towards the 0 support zone in the near term.
Hourly MACD – The MACD has slightly reduced its bearish slope.
Hourly RSI – The RSI is still below the 50 level and is struggling to move higher.
Major Support Level – 7
Major Resistance Level – 5
Charts courtesy – SimpleFX
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Bitcoin Gold Price Technical Analysis – BTG/USD Struggle Continues
Key Points Bitcoin gold price declined recently and moved below the 0.00 support against the US Dollar. This is a major bearish trend line forming with resistance at 0 on the hourly chart of BTG/USD (data feed from Bitfinex). The price might continue to struggle to break the 0 and 0 resistance levels in the … Continue reading Bitcoin Gold Price Technical Analysis – BTG/USD Struggle Continues
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Bitcoin Gold Price Technical Analysis – BTG/USD Struggle Continues
Key Points
- Bitcoin gold price declined recently and moved below the 0.00 support against the US Dollar.
- This is a major bearish trend line forming with resistance at 0 on the hourly chart of BTG/USD (data feed from Bitfinex).
- The price might continue to struggle to break the 0 and 0 resistance levels in the near term.
Bitcoin gold price is in a bearish trend below 0 against the US Dollar. BTG/USD is holding 0, but remains at a risk of more declines.
Bitcoin Gold Price Barrier
There was no respite for bitcoin gold price as it remained below the 0 pivot against the US Dollar. The price made a downside move and traded below the 0 and 0 support levels. The decline was strong and the price even tested the 0 support area. A low was formed at 2.44 from where a correction was initiated. It moved above the 23.6% Fib retracement level of the last decline from the 6 high to 2 low.
However, the upside move was limited by the 0 resistance. Buyers failed to push the price above 0 and 0 resistance levels. The 50% Fib retracement level of the last decline from the 6 high to 2 low also acted as a major hurdle. Moreover, a major bearish trend line with current resistance at 0 on the hourly chart of BTG/USD also prevented upsides. It seems like the pair is facing a lot of hurdles on the upside near 0 and 0.
As long as the price is below 0 and 0, it might continue to move down. On the downside, the 0 support is very important followed by the 0 level.
Looking at the technical indicators:
Hourly MACD – The MACD for BTG/USD is about to move back in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTG/USD is still below the 50 level.
Major Support Level – 0
Major Resistance Level – 0
Charts courtesy – Trading View, Bitfinex
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Litecoin Price Remains Above $85 as Other Altcoins Struggle
It is to be expected a lot of cryptocurrencies will start to struggle with their upward momentum for now. Once Bitcoin broke the ,000 level, the altcoins went into the red almost immediately. For now, things are not looking dramatically bad whatsoever. The big question is whether or not the Litecoin price can continue to buck this trend. It is the only top altcoin still in the green as of right now. Litecoin Price Keeps Moving Up It has been a wild ride for the Litecoin price over the past few days.After reaching a new all-time high of just
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Dash Hits New All-Time High as Bitcoin, Bitcoin Cash Struggle
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Ethereum Classic Price Technical Analysis – ETC/USD Struggle Continues
Key Highlights Ethereum classic price is struggling to gain upside momentum above the .80-11.00 levels against the US Dollar. This week’s highlighted major bearish trend line with current resistance at .65 is in place on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair might dip a few points, but likely … Continue reading Ethereum Classic Price Technical Analysis – ETC/USD Struggle Continues
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LTCUSD Price Struggle to Break Below Ichimoku Cloud
LTCUSD price saw a brief test below the Ichimoku cloud beginning of the week. However, it has since been struggling to break below it. On the Ichimoku Kinko Hyo‘s daily setup, the Kijun line has already crossed below the Tenkan line. This is yet another medium-term bearish signal, which could drive the LTCUSD Price towards … Continue reading LTCUSD Price Struggle to Break Below Ichimoku Cloud
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LTCUSD Price Struggle to Break Below Ichimoku Cloud
LTCUSD price saw a brief test below the Ichimoku cloud beginning of the week. However, it has since been struggling to break below it. On the Ichimoku Kinko Hyo‘s daily setup, the Kijun line has already crossed below the Tenkan line. This is yet another medium-term bearish signal, which could drive the LTCUSD Price towards … Continue reading LTCUSD Price Struggle to Break Below Ichimoku Cloud
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