The results of the week: Ethereum hold above $ 100. The bulls are back in business
Source:
Fortunately, still managed to hold above $ 100 this week. Cryptocurrency can grow in the near future, but it will first have to overcome the important resistance area of $ 114. Perhaps this will help the issue of ETH and an increase in demand for coins.
The Overall situation looks like this:
the-
the
- , the cryptocurrency fell back a little above the local minimum, but the sellers are still holding the market in their hands; the
- scale in the 4 hours chart the Ethereum broke through the line of the local bearish trend at point 107 USD; the
- shopping a pair of ETH/USD needs to make a powerful jump upwards after breaking the resistance zone of $ 114.
Today Ethereum is trading at $ 108. For the past day cryptocurrency dipped 0.1 percent.
theTechnical analysis
A Couple of days ago Aktiv made several noticeable jumps above $ 104, where the Ethereum formed a good support level. A little later a pair of ETH/USD continued to rise and jumped above 107 dollars. The cryptocurrency has broken the 0.236 Fibonacci level, laid on the last wave draining from 117 to 101 dollars.
Another important point — the bulls managed to reverse the line local downward trend at point 107 dollars. Some time later, the Ethereum have tested the resistance area $ 110, and then fell back down. At this point a cryptocurrency there are a few important resistance levels, including the moving average line is the 100 SMA.
Source: Included
Recommend now to refrain from open trading positions, as the majority of the market is in indecision. A good trigger for long will increase above $ 114. If you break the line the bulls will fail, it is recommended to short with the fixing of profit in the area of $ 105.
Technical indicators signal further growth in line MACD is in bullish zone, and the RSI is placed above the average level.
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