Warning: session_start(): open(/tmp/sess_427e9675180d94ed7b66da04677d643b, O_RDWR) failed: Disk quota exceeded (122) in /home/customer/www/thefuturecoin.com/public_html/wp-content/plugins/jnews-social-login/class.jnews-social-login.php on line 83

Warning: session_start(): Failed to read session data: files (path: /tmp) in /home/customer/www/thefuturecoin.com/public_html/wp-content/plugins/jnews-social-login/class.jnews-social-login.php on line 83

Warning: Cannot modify header information - headers already sent by (output started at /home/customer/www/thefuturecoin.com/public_html/wp-content/plugins/jnews-social-login/class.jnews-social-login.php:83) in /home/customer/www/thefuturecoin.com/public_html/wp-content/plugins/jnews-weather/class.jnews-weather.php on line 70
ETH/USD knocking on descending trendline resistance – The Future Coin
The Future Coin

Bitcoin

$62,637.33

BTC 0.87%

Ethereum

$2,456.52

ETH 5.16%

XRP

$1.76

XRP -0.11%

Litecoin

$277.50

LTC 4.40%

EOS

$7.67

EOS 4.58%

  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • Blockchain News
    • Business News
    • Technology News
    • Policy & Regulations
  • Markets
    • Market News
    • Market Analysis
    • Price Indexes
    • Top Cryptocurrencies
    • Heatmap
  • Opinion
  • Cryptopedia
    • Explained
    • Bitcoin101
    • Ethereum101
    • Bitcoin Cash101
    • ICO101
    • Ripple101
  • Press Releases
No Result
View All Result
The Future Coin
No Result
View All Result
Home Ethereum News

ETH/USD knocking on descending trendline resistance

by The Future Coin
June 16, 2020
in Ethereum News
0
Visa likely to launch digital currency with Ethereum blockchain
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter

  • Ethereum trades between the 100 SMA resistance and the 50 SMA support.
  • ETH/USD breakout above the descending trendline to pave the way for gains above $240.

Ethereum made a run for $240 after another dive to $220 on Monday. The trend reversal overcame the resistance at several levels including $225 and the 38.2% Fibo taken between the last swing high of $290 to a swing low of $218. In addition to that, the price stepped the 50 SMA in the 1-hour range. Unfortunately, the momentum lost steam under the descending trendline resistance.

At the time of writing, Ethereum is trading at $232.37 while dealing with the same trendline resistance. The prevailing trend is relatively bullish but I would say that buyers lack the volume and catalyst to sustain gains above $235. Looking at the technical picture, the RSI shows that Ethereum could embrace a period of consolidation mainly between $230 (support) and $235 (resistance). A bullish divergence above the MACD confirms the presence of the bulls, therefore, the consolidation will have an inclination to the upside.

Support has been established at $230 as highlighted by the 38.2% Fibo and the 50 SMA. Losses below this level could find support at $225, and the narrow buyer congestion zone at $218 – $220. Note that, Ethereum’s prominent trend remains sideways with an upward inclination.

ETH/USD 1-hour chart

ETH/USD price chart

 

Source link

EDITOR’S CHOICE

Ethereum Could Reduce Fees With Batch Transactions

Ethereum Rival Polkadot Futures Suffer 99% Flash Crash—Forcing Binance To Enact Fresh Controls

Global Crypto Investment Fund FD7 Ventures to Sell $750M USD Worth of Bitcoin to Increase Cardano and Polkadot Holdings

Coinbase Files for Direct Public Listing With SEC – Cryptocurrency Regulation

Tanla to take Blockchain platform Trubloq abroad

From mail-in ballots to business as usual, Vermont municipalities prepare for Town Meeting

Best Pick For You

News

  • Altcoin News
  • Bitcoin News
  • Blockchain News
  • Business News
  • Ethereum News
  • Litecoin News
  • Ripple News

Features

  • Market Analysis
  • Opinion
  • Explained
  • Policy & Regulations
  • Top Cryptocurrencies
  • Technology News

Market Tools

  • Market News
  • Price Indexes
  • Bitcoin Price Index
  • Ethereum Price Index
  • Bitcoin Cash Price Index
  • Litecoin Price Index
  • Monero Price Index
  • HeatmapPartner

Cryptopedia

  • Explained
  • Bitcoin101
  • Bitcoin Cash101
  • Ethereum101
  • ICO101
  • Ripple101

© 2020 Coingraph

No Result
View All Result
  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • Blockchain News
    • Business News
    • Technology News
    • Policy & Regulations
  • Markets
    • Market News
    • Market Analysis
    • Price Indexes
    • Top Cryptocurrencies
    • Heatmap
  • Opinion
  • Cryptopedia
    • Explained
    • Bitcoin101
    • Ethereum101
    • Bitcoin Cash101
    • ICO101
    • Ripple101
  • Press Releases

© 2020 Coingraph

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
bitcoin
Bitcoin (BTC) $ 62,751.00
ethereum
Ethereum (ETH) $ 2,455.44
binance-coin
Binance Coin (BNB) $ 550.73
xrp
XRP (XRP) $ 1.75
cardano
Cardano (ADA) $ 1.47
tether
Tether (USDT) $ 1.00
polkadot
Polkadot (DOT) $ 43.08
uniswap
Uniswap (UNI) $ 38.32
litecoin
Litecoin (LTC) $ 278.30
dogecoin
Dogecoin (DOGE) $ 0.139091
chainlink
Chainlink (LINK) $ 42.84
bitcoin-cash
Bitcoin Cash (BCH) $ 842.23
stellar
Stellar (XLM) $ 0.629913
theta-token
Theta Network (THETA) $ 12.30
vechain
VeChain (VET) $ 0.185408
usd-coin
USD Coin (USDC) $ 1.00
filecoin
Filecoin (FIL) $ 169.89
tron
TRON (TRX) $ 0.159466
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 62,612.00
eos
EOS (EOS) $ 7.69
solana
Solana (SOL) $ 27.14
klay-token
Klaytn (KLAY) $ 2.95
bitcoin-sv
Bitcoin SV (BSV) $ 358.54
crypto-com-chain
Crypto.com Coin (CRO) $ 0.252715
cosmos
Cosmos (ATOM) $ 26.38
terra-luna
Terra (LUNA) $ 16.52
compound-ether
cETH (CETH) $ 49.20
monero
Monero (XMR) $ 339.57
iota
IOTA (MIOTA) $ 2.18
aave
Aave (AAVE) $ 466.97
bittorrent-2
BitTorrent (BTT) $ 0.008610
okb
OKB (OKB) $ 20.58
binance-usd
Binance USD (BUSD) $ 1.00
tezos
Tezos (XTZ) $ 6.76
neo
NEO (NEO) $ 70.92
ftx-token
FTX Token (FTT) $ 56.01
avalanche-2
Avalanche (AVAX) $ 36.89
algorand
Algorand (ALGO) $ 1.53
kusama
Kusama (KSM) $ 466.78
nem
NEM (XEM) $ 0.449756
compound-usd-coin
cUSDC (CUSDC) $ 0.021925
elrond-erd-2
Elrond (EGLD) $ 228.18
huobi-token
Huobi Token (HT) $ 20.99
pancakeswap-token
PancakeSwap (CAKE) $ 23.98
maker
Maker (MKR) $ 4,002.32
cdai
cDAI (CDAI) $ 0.021401
holotoken
Holo (HOT) $ 0.019530
ethereum-classic
Ethereum Classic (ETC) $ 26.93
thorchain
THORChain (RUNE) $ 14.52
havven
Synthetix Network Token (SNX) $ 21.87