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Ethereum

Ethereum price analysis: ETH/USD pares losses, moves below SMA100 daily

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  • Ethereum price retreated from the recent high, settled below SMA100 daily
  • The next support awaits ETH bears on approach to $180.00.

ETH/USD topped at $194.80 on November 6 and retreated to $185.98 by the time of writing. The second-largest digital asset with the current market value of $20.3 billion has lost 1.3% of its value on a day-to-day basis, following the global trends on the cryptocurrency market. While the attempts to recover above $190.00 proved to be futile, from the longer point of view, ETH/USD is moving inside a broad range.

Ethereum’s technical picture

On the daily charts, the initial support is created by SMA50 (Simple Moving Average) daily at $181.50 followed by the middle line of the Bollinger Band. Once it is out of the way, a strong psychological barrier of $180.00 will come into focus. This area has been limiting the decline since the beginning of November. If it is broken, the sell-off may be extended towards $164.85 ( the lower line of the daily Bollinger Band). The ultimate support is created by the lower line of a broad range at $160.00. Since the end of September, the coin made several attempts to break it, but bumped into strong buying interest.

  • Ethereum price retreated from the recent high, settled below SMA100 daily
  • The next support awaits ETH bears on approach to $180.00.

ETH/USD topped at $194.80 on November 6 and retreated to $185.98 by the time of writing. The second-largest digital asset with the current market value of $20.3 billion has lost 1.3% of its value on a day-to-day basis, following the global trends on the cryptocurrency market. While the attempts to recover above $190.00 proved to be futile, from the longer point of view, ETH/USD is moving inside a broad range.

Ethereum’s technical picture

On the daily charts, the initial support is created by SMA50 (Simple Moving Average) daily at $181.50 followed by the middle line of the Bollinger Band. Once it is out of the way, a strong psychological barrier of $180.00 will come into focus. This area has been limiting the decline since the beginning of November. If it is broken, the sell-off may be extended towards $164.85 ( the lower line of the daily Bollinger Band). The ultimate support is created by the lower line of a broad range at $160.00. Since the end of September, the coin made several attempts to break it, but bumped into strong buying interest.

source:.fxstreet

Ethereum

Ethereum (ETH/USD) forecast and analysis on February 22, 2020

Cryptocurrency Ethereum (ETH/USD) is trading at 263. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bullish trend on Ethereum. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator stripes.

Ethereum (ETH/USD) forecast and analysis on February 22, 2020

As part of the Ethereum forecast, a test of level 259 is expected. Where can we expect an attempt to continue the growth of ETH/USD and the further development of an upward trend. The purpose of this movement is the area near the level of 298. The conservative buying area Ethereum is located near the lower border of the Bollinger Bands indicator strip at 248.

Ethereum (ETH/USD) forecast and analysis on February 22, 2020

Cancellation of the option to continue the growth of the Ethereum rate will be a breakdown of the lower border of the Bollinger Bands indicator stripes. As well as a moving average with a period of 55 and closing of quotations of the pair below the area of ​​240. This will indicate a change in the current trend in favor of the bearish for ETH/USD. In case of breakdown of the upper border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.

Ethereum (ETH/USD) forecast and analysis on February 22, 2020 implies a test level of 259. Further growth is expected to continue to the area above level 298. The conservative buying area is located near area 248. The breakdown of the growth option for cryptocurrency will be a breakdown of the level of 240. In this case, we should expect further fall.

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Ethereum

Ethereum (ETH) Holds Its Ground But Threats Loom Over

Ethereum (ETH) has been holding its ground firmly above the trend line support but there is still the risk of a decline below the ascending triangle considering we now have a bearish divergence on the RSI as we can see on the 4H chart for ETH/USD. This is not a favorable development and could mean that Ethereum (ETH) might see once last decline down to the 38.2% fib level below $240 before the next move up. That would happen only if we see the trend line support break which has not happened so far but the bulls seem to be losing momentum. 

The cryptocurrency market is ready to rally further after the recent correction but we still cannot discount the possibility of a decline down to the 200-moving average in BTC/USD which means that such a decline would drag ETH/USD down to the 38.2% fib level. For the market makers and the whales, the big players that control this market, they have to keep the balance between completing the correction and not spooking the horse. The last thing they want to do is shatter the halving dream just yet. They want the market to rally higher before halving and they are going to ensure that it happens. One thing that is important to note that the manner in which the market crashed recently could definitely happen again which is why it is important to understand the risks and manage them accordingly. 

The bearish divergence that we saw on ETH/USD can also be seen on ETH/BTC. Ethereum (ETH) rallied aggressively against Bitcoin (BTC) but it seems to have run out of steam to surge on. If it declines below the trend line support, we could be looking at a sharp decline to the 38.2% fib level. However, it is important to realize that a move like that would seriously hurt the bullish resolve, but it can still happen. 

In case ETH/BTC declines down to the 38.2% fib level, we would want to see it find support there and begin an uptrend instead of falling further down to the 61.8%. The market seems to have lost the bullish momentum after the recent crash but we could still see a pump or two and then everyone would try to FOMO into the market once again. So, it is important to be mindful of all eventualities. If ETH/BTC does not fall below the trend line support, then it could shape up to be a major ascending triangle which would then lead to a major breakout in the days and weeks to come. 

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Ethereum Price Analysis: ETH/USD is subject to an explosive breakout

  • Ethereum price is trading in the red by 1.70% in the session on Friday. 
  • ETH/USD price action is very much consolidating following a double top being hit at $288. 
  • The bears are trying to regather momentum, running at two sessions in the red. 

ETH/USD weekly chart

The price is stuck within a key range, $290-240, heading for a potentially negative weekly close, which if being the case could be a signal of a change in trend. 

ETH/USD daily chart

The price is narrowing, buying momentum would likely be seen upon a breakout to the upside of the top at $288, to the downside, bearish momentum would likely be seen upon a breakout of the double top formation neckline at $240-38 region. 

Spot rate:                     265.83

Relative change:          +3.15%

High:                             266.76

Low:                              254.30

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