Key Highlights
- Ethereum price finally showed some signs of life, as it traded above a major resistance against the US Dollar.
- Yesterday’s highlighted bearish trend line on the hourly chart (data feed via Kraken) of ETH/USD was cleared to ignite an upside move.
- The price is now above the 100 hourly simple moving average, which is a positive sign for the bulls.
Ethereum price spiked higher against the US Dollar, and the last few hourly candles look very positive for more gains in the short term.
The current price action is very positive, as the price is now trading above the 100 hourly simple moving average. At this moment, the bears are defending the 61.8% Fib retracement level of the last drop from the $11.30 high to $10.08 low.
Major Support Level – $10.50
Major Resistance Level – $11.00
http://www.newsbtc.com/2016/07/14/ethereum-price-technical-analysis-perfect-bullish-break-eth/
