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Favorable news sends $ETHBTC to 6 day high
Data as of 16:00 UTC March 30 2016 except as noted.
Ether is DOWN -6.15% on the day, DOWN -1.87% on the week and UP 379.90% on the month*:
*price reference: 0.02865 ETHBTC as of 16:44 UTC March 30 2016 @Gatecoin
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:
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.
Data capture 17:26 UTC March 30 2016 Bittrex
Weekly technical indicators
Last $ETHBTC 0.02888962 (Poloniex)
$ETHBTC 24 hour change: 1.91%
$ETHBTC 24 hour volume: 768,611 ETH
These are subjective, conservative estimates of ETH market sentiment:
• $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
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 last price
Get an instant mobile friendly ether last price:
ETHBTC exchange marketshare: 24 hours
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.
Past history is not an indicator of future performance. For the legal disclaimer read here.
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