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Ethereum (ETH) Bulls Give Up Before Retest Of Trend Line Resistance

Ethereum (ETH) is reluctant to rally towards its trend line resistance as the price has stopped midway without their being any strong resistance in the way. It is still likely that we might see ETH/USD crawl towards the trend line resistance but the weakness shows that the price will face a strong rejection once it gets there. The RSI and Stochastic indicators on the daily time frame also show that there is plenty of room for a rally but the price action continues to remain very weak. The price is now trading within a descending triangle that is part of...

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Sally Ho's Technical Analysis 1 May 2019

Bitcoin Bitcoin (BTC/USD) gained decent ground during today’s Asian session, trading as high as the 5329.80 level after demand surfaced around the 5225.55 area, right around the 38.2% retracement of the move from 5650.01 to 4963.00. Clues emerged early in yesterday’s North American session to suggest the pair would appreciate as Bids emerged at 5187.00 on a pullback, right around the 61.8% retracement of the move from 4901.99 to 5650.01. Some Stops were then elected above the 5251.55 area, then the 100-bar MA (4-hourly) before Bids were seen around the aforementioned 5225 area. Additional Stops were then triggered above the...

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Ethereum (ETH) Bears Get Too Excited At The Wrong Time

Ethereum (ETH) bears get too excited all of a sudden as ETHUSDShorts jumps more than 7% a day. This was a consequence of ETHUSDShorts closing above the 50 day moving average yesterday. The number of margined shorts against ETH/USD is now expected to continue to rise towards the 200 day moving average. However, considering that Bitcoin (BTC) has already started to rally, we might see ETH/USD follow suit just like most other cryptocurrencies have. This would make it the wrong time to be going short on ETH/USD. Ethereum (ETH) shorts are still quite low compared to that of Bitcoin (BTC)...

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Sally Ho's Technical Analysis 30 April 2019

Bitcoin Bitcoin (BTC/USD) appreciated during today’s Asian session, trading as high as the 5165.49 area after Bids emerged around the 5100.00 figure late in yesterday’s North American session. The pair was challenged around the 5176.07 area during yesterday’s European and North American sessions, a key level we continue to spotlight that represents the 38.2% retracement of the 8488.00 – 3128.89 range. Early in yesterday’s European session, the pair was driven lower and Bids emerged around the 5078.52 area, representing the 76.4% retracement of the move from 4901.99 to 5650.01 and another level we have noted. Above the current range, the...

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Ethereum (ETH) Eyes A Rally Towards $160 Amid Fading Bullish Momentum

Ethereum (ETH) continues to show signs of weakness as the price struggles to take off towards $160 from current levels. For the past three days, the price has failed to make any meaningful moves and is now likely to attempt to rally towards the top of the descending triangle it is trading in. This descending triangle forms part of a large rising wedge that will eventually have to the break to the downside. That being said, ETH/USD has a lot of room to rally short term as the RSI has cooled off and the stochastic indicator signals a bullish crossover...

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