Ethereum Price Prediction: ETH/USD could be in trouble – Confluence Detector


  • Ethereum price on Thursday is nursing losses of around 4% in the latter part of the session.
  • ETH/USD bears are flirting with a key daily ascending trend line to the downside, price edging just south of that.

Ethereum price late in the session on Thursday was nursing losses of around 3.80%, flirting with a key supporting ascending trend line to the downside. A further cooling is seen across the market, as the bears regain control.

ETH/USD price is retesting a vital ascending trend line to the downside. This has been running since early February, from 6th. A daily closure below this support could be extremely punishing to the recent recovery.

Given current downside momentum, eyes are on the next big barriers of support via the confluence detector. Firstly; $131.99, weekly 23.6% Fibonacci, weekly pivot point support. $129.17 daily 50SMA. To upside; $136.21, 61.8% weekly chart view, daily pivot point support.

XRP/USD daily confluence detector 

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Rebound attempt after two bloody days

The weekend has left some moves that have generated quite a stir. Bitcoin finally gave way to bass development and took advantage of Sunday to go in search of the EMA50 around the area of $10,000.

More Bitcoin News

Ripple’s partner Santander bank new UK and Poland payment corridor launched

One Pay FX, a banking application powered by Ripple for Spanish banking giant Santander has added another payment corridor between the United States and Poland. An upgrade completed on the app last week enabled instant funds transfer between the two countries but only went live after the official announcement.

More Ripple News

Ethereum price analysis: ETH/USD plunges 24% in line with Bitcoins slide under $10k

Ethereum continued to lose ground following last week’s drop to $260. The second largest cryptocurrency explored the levels to the south failing to find support at $240 and $220 consecutively.

More Ethereum News

R3 blockchain consortium startup contemplates going public via an IPO

According to a report by Bloomberg, R3 a blockchain consortium start is considering going public in an initial public offering (IPO). Bloomberg says sources “familiar with the matter” confirmed that R3 is in talks with various advisers on the same. Details, where the IPO could be executed, are yet to come to light.

More Cryptocurrencies News

Bitcoin Weekly Forecast: BTC bulls get ready for a major assault

The cryptocurrency market has been pretty volatile this week. Bitcoin stayed in the green zone despite wild price gyrations, while major altcoins are nursing double-digit losses on a week-on-week basis.

Read the weekly forecast

BTC

ETH

XRP