Summing up: what happened this week for Ethereum?
Source:The Price of Ethereum still konsolidiruyutsya trading in tandem with the dollar. However, while there is still a chance for a small correction to the level of 214 dollars.
The Overall situation looks like this:
the-
the
- asset trading in a channel above the support level of $ 210; the
- formed by local ascending channel with support in the area of 222 dollars on 4-hour chart; the
- in the short term cryptocurrency may fall to 214 dollars.
At the moment Ethereum is trading in the zone 224 dollars. In recent days altcon lost 1.1 percent of its value.
thethe 4-hour chart
Last week, the asset did not give the traders good trading opportunities long or short. Price Ethereum walked in one channel just above the support zone 220 dollars. Bitcoin managed to break the upper boundary of the channel, so she retreated slightly down. The local uptrend, the Ethereum breached the 100 SMA on 4-hour chart and the 50 Fibonacci level formed the last wave of falling.
However, price movement has stopped in the area of $ 230, where the level of 61.8 Fibonacci. After failing to reach the top, the bulls have lost control of the situation and the sellers pushed the price of the cryptocurrency below to 227 USD and 100 SMA on 4-hour chart.
At the moment the price of Ethereum lies on the lower boundary of the local rising channel. If you happen to break down, is expected to fall up to the support zone 220 and 214 dollars.
image Source — NewsBTC
While Ethereum does not have sufficient interested buyers to prepare the site for new bullrun. Market players are undecided, so to open long or short positions yet. Technical indicators confirm this conjecture: the MACD is on the border of the bullish zone, and the RSI indicates the lack of a clear price trend.
Chart Analysis of bitcoin has produced . Go to the discussion .
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