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Ethereum Price Analysis: If this trendline breaks it could spell trouble

  • Ethereum could break the bull flag pattern on the hourly chart.
  • There has also been a very strong trendline that has performed well on this timeframe.
Ethereum Price Analysis: If this trendline breaks it could spell trouble
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

ETH/USD 1-Hour Chart

ETC/USD has been moving in a nice uptrend since 24th January on the hourly chart.

Now it seems the price has consolidated into a bull flag pattern. 

An upside breakout will clearly be bullish for the crypto major but we need to see if the buyers regain control.

Elsewhere, on the downside, the trendline had been tested (4 times) with some shadows (wicks) managing to breach the zone. 

However, there was no definitive close below the trendline so for me, it remains intact.

Ethereum Technical Analysis

Additional Levels

ETH/USD

Overview
Today last price187.86
Today Daily Change-1.44
Today Daily Change %-0.76
Today daily open189.3
 
Trends
Daily SMA20172.1
Daily SMA50149.45
Daily SMA100158.22
Daily SMA200175.77
 
Levels
Previous Daily High195.35
Previous Daily Low186.57
Previous Weekly High186.73
Previous Weekly Low159.22
Previous Monthly High186.73
Previous Monthly Low125.81
Daily Fibonacci 38.2%192
Daily Fibonacci 61.8%189.92
Daily Pivot Point S1185.46
Daily Pivot Point S2181.62
Daily Pivot Point S3176.67
Daily Pivot Point R1194.25
Daily Pivot Point R2199.19
Daily Pivot Point R3203.03

Author

Rajan Dhall, MSTA

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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