Home Tags Posts tagged with "Upsides"
Tag:

Upsides

CoinNews

Ethereum Price Could See Technical Correction But Upsides Might Be Limited

by CoinNews
written by CoinNews

Ethereum price is attempting a recovery wave above the $2,200 zone. ETH could start a decent increase if it settles above the $2,240 resistance.

  • Ethereum started an upside correction from the $2,165 zone.
  • The price is trading below $2,250 and the 100-hourly Simple Moving Average.
  • There is a short-term bearish trend line forming with resistance near $2,225 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair might start a decent increase if it clears the $2,240 resistance zone.

Ethereum Price Eyes Recovery

Ethereum price managed to form a support base above the $2,165 level. ETH seems to be consolidating losses near the $2,200 level and might aim for a recovery wave, like Bitcoin.

There was a minor upside correction above the $2,200 level, but the bears are still active near the $2,240 resistance zone. There is also a short-term bearish trend line forming with resistance near $2,225 on the hourly chart of ETH/USD.

Ethereum is now trading below $2,250 and the 100-hourly Simple Moving Average. On the upside, the first major resistance is near the $2,240 level. It is close to the 23.6% Fib retracement level of the key drop from the $2,480 swing high to the $2,165 low.

The next major resistance is near the $2,280 or the 100-hourly Simple Moving Average, above which the price might rise and test the 50% Fib retracement level of the key drop from the $2,480 swing high to the $2,165 low. If the bulls push the price above the $2,320 resistance, they could aim for $2,360.

Ethereum Price

Source: ETHUSD on TradingView.com

A clear move above the $2,360 level might start a decent increase. In the stated case, the price could rise toward the $2,420 level. Any more gains might send the price toward the $2,500 zone.

Another Failure in ETH?

If Ethereum fails to clear the $2,240 resistance, it could start another decline. Initial support on the downside is near the $2,200 level.

The next key support could be the $2,165 zone. A daily close below the $2,165 support might start another major decline. In the stated case, Ether could test the $2,080 support. Any more losses might send the price toward the $2,000 level.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 level.

Major Support Level – $2,165

Major Resistance Level – $2,240

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Source link

0 comment
0 FacebookTwitterPinterestEmail
CoinNews

BNB Price Shows Signs of Life But $250 Is The Key To More Upsides

by CoinNews
written by CoinNews

BNB price avoided a major decline below $200 and recovered against the US Dollar. It climbed above $235 and now faces many hurdles near $245 and $250.

  • BNB price is slowly moving higher toward the $250 resistance.
  • The price is now trading above $235 and the 100 simple moving average (4 hours).
  • There is a key bullish trend line forming with support at $241.5 on the 4-hour chart of the BNB/USD pair (data source from Binance).
  • The pair might gain bullish momentum if there is a clear move above $250.

BNB Price Recovers 10%

These past few days, BNB price managed to start a recovery wave above the $220 resistance. The recent positive moves in Bitcoin, Ethereum, and other altcoins sparked a decent increase in BNB.

There was a steady move above the $232 and $235 resistance levels. The price even climbed toward the $245 resistance. A high is formed near $245.8 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $222.5 swing low to the $245.8 high.

BNB is also trading above $235 and the 100 simple moving average (4 hours). Besides, there is a key bullish trend line forming with support at $241.5 on the 4-hour chart of the BNB/USD pair.

BNB Price

Source: BNBUSD on TradingView.com

If there is a fresh increase, the price could face resistance near the $245 level. The next resistance sits near the $250 level. A clear move above the $250 zone could send the price further higher. In the stated case, BNB price could test $265. A close above the $265 resistance might set the pace for a larger increase toward the $280 resistance.

Downside Correction?

If BNB fails to clear the $245 resistance, it could start a downside correction. Initial support on the downside is near the $240 level and the trend line.

The next major support is near the $235 level or 50% Fib retracement level of the upward move from the $222.5 swing low to the $245.8 high. If there is a downside break below the $235 support, the price could drop toward the $226 support. Any more losses could initiate a larger decline toward the $220 level.

Technical Indicators

4-Hours MACD – The MACD for BNB/USD is losing pace in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for BNB/USD is currently above the 50 level.

Major Support Levels – $240, $235, and $226.

Major Resistance Levels – $245, $250, and $265.

Source link

0 comment
0 FacebookTwitterPinterestEmail
CoinNews

Bitcoin Price Could Recover But Upsides Might Be Attractive To Bears

by CoinNews
written by CoinNews

Bitcoin price is attempting a recovery wave above the $29,200 level. BTC must clear the $29,600 resistance to start a decent recovery wave.

  • Bitcoin is consolidating above the $29,000 support zone.
  • The price is trading below $29,600 and the 100 hourly Simple moving average.
  • There is a short-term rising channel forming with support near $29,120 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could recover but upsides might be limited above the $29,600 resistance.

Bitcoin Price Faces Resistance

Bitcoin price extended its decline below the $29,200 support zone. BTC even traded below the $29,000 level. A low is formed near $28,880 and the price is now attempting a recovery wave.

There was a minor increase above the $29,000 resistance level. The price spiked above the 23.6% Fib retracement level of the downward move from the $30,334 swing high to the $28,880 low. However, the bears are active near the $29,350 level.

Bitcoin is now trading below $29,600 and the 100 hourly Simple moving average. There is also a short-term rising channel forming with support near $29,120 on the hourly chart of the BTC/USD pair.

Immediate resistance is near the $29,350 level. The first major resistance is near the $29,600 level and the 100 hourly Simple moving average. It is near the 50% Fib retracement level of the downward move from the $30,334 swing high to the $28,880 low.

Bitcoin Price

Source: BTCUSD on TradingView.com

The next major resistance is near the $29,750 level, above which the price might rise toward the $30,000 resistance zone. A close above the $30,000 level might start a fresh increase. In the stated case, the price could rise toward the $30,400 resistance.

More Losses in BTC?

If Bitcoin fails to clear the $29,350 resistance, it could continue to move down. Immediate support on the downside is near the $29,100 level and the channel trend line.

The next major support is near the $28,880 level, below which the price could drop toward $28,500. The next support is near the $28,200 level. Any more losses might call for a move toward the $27,500 level in the near term.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $29,100, followed by $28,880.

Major Resistance Levels – $29,350, $29,600, and $30,000.

Source link

0 comment
0 FacebookTwitterPinterestEmail