Ethereum Market Report: Breakout to 6 Day High

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Favorable news sends $ETHBTC to 6 day high
Data as of 16:00 UTC March 30 2016 except as noted.

Price brief

Ether is DOWN -6.15% on the day, DOWN -1.87% on the week and UP 379.90% on the month*:

Price change
Day -6.15%
Week -1.87%
Month +379.90%

*price reference: 0.02865 ETHBTC as of 16:44 UTC March 30 2016 @Gatecoin

Trend
The Poloniex chart shows one month in four hour candlesticks. The two week bearish trend that started on the March 13 2016 high has broken. A breakout has taken $ETHBTC to a six day high:

ethbtc-poloniex-chart-1 Data capture 16:50 UTC March 30 2016 @Poloniex

The Kraken chart amplifies the change in price direction. The red line shows the down trend. The green line shows the up trend breakout:
ethbtc-kraken-chart-2 Data capture 17:10 UTC March 30 2016 @Kraken

Support & Resistance
The Bittrex chart displays support and resistance. There is repeated and strong support at 0.0255 (at or near the yellow line). The lower 0.024 point has seen one visit in this one week time frame.

We have seen resistance at 0.029 (the blue line). One recent price has touched this, while the latest candle has penetrated 0.029 in the candle shading. The fact we have seen ETHBTC cap out at the beginning of the week at this resistance level may suggest a similar future fate. However, key highlights indicate favorable conditions which may permit higher prices. Such a move could see the 0.029 resistance level discarded.
ethbtc-bittrex-chart-3 Data capture 17:26 UTC March 30 2016 Bittrex

Weekly technical indicators
High .02995
Low: 0.02351
Range: 0.00644
Support: 0.0255
Resistance: 0.029

$ETHBTC
Last $ETHBTC 0.02888962 (Poloniex)
$ETHBTC 24 hour change: 1.91%
$ETHBTC 24 hour volume: 768,611 ETH

$ETHUSD
Last $ETHUSD 11.89 (Bitfinex)
$ETHUSD 24 hour change %: 1.13%
$ETHUSD 24 hour volume: 46,157 ETH
ethusd-ethereumwisdom-chart-4 Data capture 17:51 UTC March 30 2016 EthereumWisdom

Market sentiment
These are subjective, conservative estimates of ETH market sentiment:

Daily: bullish
Weekly: neutral
Monthly: bullish

Key Highlights
• $USD reverses losses as traders return from Easter Break & positive fed news released
• Favorable news from @NYTimes, Forbes, Wall Street Journal and other media ongoing
• ETH breaks out to 6 day high
• old downtrend ends, and new parameters are being established

Poloniex Depth
The overall buy depth has diminished from previous weeks; sell depth is stronger:
ethbtc-marketdepth Data capture 17:59 UTC March 30 2016 @Poloniex

Market chatter
trollbox

Get the hype and dirt on The Trollbox: https://poloniex.com/trollbox

Gold 24 hour spot | % change
Gold 1227.20 | -14.70

Where is the price of ether going?
The @Gatecoin 24 hour ETHBTC chart is below. Ether could go up, down, or remain near its present price. The upwards trend is indicated by the blue line. If this current trend continues then ether may find resistance at the weekly resistance level of 0.029 (the yellow line). The ether last price is near a six day high. The market continues to receive favorable news. Sentiment is bullish. Looking forward one week, these and other positive factors have the potential to drive the price to continue the uptrend, and to possibly attain or exceed the all-time high.

If the trend reverses, we can expect to see steep corrections even down to or past the weekly support level of 0.0255 along the path of the red line. Ether traders like their profits and bears like them too. We have seen numerous and substantive profit taking scenarios in the past week with a low of 0.02351.

ethbtc-gatecoin-chart-4 Data courtesy @Gatecoin 18:36 UTC March 30 2016

$ETHBTC last price
Get an instant mobile friendly ether last price:

KittyBitcoin.com/ethereum/gatecoin-ethbtc.php

Buy or sell ether – receive $US 10
gatecoin
Interested in buying ether or bitcoin? Get it on @Gatecoin and earn US$10 when you deposit your first funds. Here is a direct link to the US$10 promotional offer:

https://gatecoin.com/register?referralCode=OVWBNZ

ETHBTC exchange marketshare: 24 hours

Poloniex 59.69%
Gatecoin 18.61%
Kraken 16.13%
Bitfinex 2.38
Bittrex 1.08

bnc-marketshare Data courtesy @BraveNewCoin 20:37 UTC March 29 2016.

Summary
Ether is DOWN -6.15% on the day, DOWN -1.87% on the week and UP 379.90% on the month. ETH saw weekly support at 0.0255 and resistance at 0.029. The trend line is BULLISH.

Disclaimer
Past history is not an indicator of future performance. For the legal disclaimer read here.

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