February 14, 2018 4:44 PM
Ether accelerated higher against the US dollar but is facing an extended correction versus bitcoin. ETH/USD is showing a lot of bullish signs with supports at $870.00 and $840.00.
Ether succeeded in gaining strength and moved above the $870.00 resistance against the US dollar.
There is a key bullish trendline forming with support at $840.00 on the 4-hour chart of ETH/USD.
ETH/BTC declined further and is currently approaching the 0.0950BTC support.
Technically, the hourly chart indicators are correcting lower from the overbought levels.
ETH/USD Could Accelerate Further
There was a positive price structure formed in ETH/USD around the $825.00 swing low. The pair started a nice upward move and succeeded in breaking a crucial resistance at $870.00.
On the other hand, ETH/BTC continues to correct lower and is currently approaching the 0.0950BTC support; the previous support at 0.1000BTC is now a resistance.
Looking at the hourly chart of ETH/USD,…