Ethereum price stayed above the
key 0.0314 support area against bitcoin and climbed above $170 versus the US
Dollar. ETH to BTC is likely to extend gains above 0.0340 and 0.0342 resistance
Key Talking Points
- Ethereum price is forming a strong support above
the 0.0314 level against bitcoin.
- There is a crucial bearish trend line in place
with resistance at 0.0330BTC on the 4-hours chart of the ETH/BTC pair (data
feed from Poloniex).
- The pair is likely to break the trend line and
it could even climb above 0.0340BTC.
Ethereum Price Chart Analysis
In the past few hours, there was a decent bounce in bitcoin, litecoin, Ethereum, EOS, bitcoin cash, ripple, and others against the US Dollar. ETH to BTC also recovered a few points after it formed a strong support base near the 0.0312 and 0.0314 levels.
Looking at the chart, the price traded as low as 0.0311 and recently bounce back. It seems like there is a crucial support base formed near the 0.0312 and 0.0314…
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