Author: dfmines

Ethereum price started a fresh recovery wave above the $3,550 zone. ETH is consolidating and aims for a fresh increase above the $3,700 resistance. Ethereum started a decent recovery wave above the $3,550 zone. The price is trading above $3,620 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $3,620 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain bullish momentum if it clears the $3,700 resistance level. Ethereum Price Climbs Above $3,650 Ethereum price remained stable above the $3,420 level and extended its recovery wave like Bitcoin. ETH gained pace for a move above the $3,550 and $3,620 resistance levels. The bulls were able to surpass the $3,650 resistance level. It opened the doors for a move toward the $3,700 level. A high was formed at $3,694 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $3,569 swing low to the $3,694 high. Ethereum price is now trading above $3,650 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $3,620 on the hourly chart of ETH/USD. The trend line is close to the 76.4% Fib retracement level of the upward move from the $3,569 swing low to the $3,694 high. On the upside, the price seems to be facing hurdles near the $3,700 level. The first major resistance is near the $3,720 level. The main resistance is now forming near $3,800. A clear move above the $3,800 resistance might send the price toward the $3,880 resistance. An upside break above the $3,880 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,920 resistance zone or even $4,000 in the near term. Another Decline In ETH? If Ethereum fails to clear the $3,700 resistance, it could start another decline. Initial support on the downside is near the $3,620 level and the trend line. The first major support sits near the $3,550. A clear move below the $3,550 support might push the price toward the $3,500 support. Any more losses might send the price toward the $3,420 support level in the near term. The next key support sits at $3,350. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,620 Major Resistance Level – $3,700

Bitcoin price is recovering losses above the $98,000 zone. BTC is gaining pace and might continue higher if it clears the $100,000 resistance zone. Bitcoin started a fresh recovery above the $97,500 zone. The price is trading above $97,800 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $97,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it stays above the $97,500 support zone. Bitcoin Price Recovers Further Bitcoin price started a decent upward move above the $95,500 resistance zone. BTC was able to climb above the $96,200 and $97,000 resistance levels. The price was able to clear many hurdles near the $98,500 level. It even spiked above $99,500. A high was formed at $99.739 and the price is now consolidating gains above the 23.6% Fib retracement level of the recent upward move from the $97,250 swing low to the $99,793 high. There is also a connecting bullish trend line forming with support at $97,800 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading above $97,500 and the 100 hourly Simple moving average. The trend line is near the 76.4% Fib retracement level of the recent upward move from the $97,250 swing low to the $99,793 high. On the upside, immediate resistance is near the $99,800 level. The first key resistance is near the $100,000 level. A clear move above the $100,000 resistance might send the price higher. The next key resistance could be $102,500. A close above the $102,500 resistance might send the price further higher. In the stated case, the price could rise and test the $105,00 resistance level. Any more gains might send the price toward the $108,000 level. Another Drop In BTC? If Bitcoin fails to rise above the $100,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $98,500 level. The first major support is near the $97,800 level. The next support is now near the $96,550 zone. Any more losses might send the price toward the $95,000 support in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $98,500, followed by $96,550. Major Resistance Levels – $99,800 and $100,000.

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