As hardwork Constantinople influenced the price of Ethereum? Summarize
Source:
hard forks Constantinople in the network is successful. However, the price of cryptocurrency this event affected not much — ETH is still in a consolidation phase. In the near future can be held a strong move up, which will gain momentum after breaking resistance at $ 140.
The Overall situation looks like this:
the-
the
- , the cryptocurrency rebounded after recent sharp plum and is now trading above $ 130; the
- growth of the asset is slowing resistance near $ 137 and the moving average line is the 100 SMA on the scale 1-hour chart; the
- for the 1-hour chart has formed a triangle, which is a prerequisite to a speedy sharp jerk coin prices.
Today, the Ethereum trading at $ 136. For the past day altcon fell 0.94 percent.
theTechnical analysis
Yesterday, market players have had a few potential possibilities of opening a trading position. A pair of ETH/USD fell down to 126 dollars, then rebounded above $ 135. It seems that while the bulls are counting on further growth and purchase even a slight drawdown of the asset.
However, before customers, there are still some significant obstacles. While Ethereum does not overcome the area of $ 140, to talk about the formation of the uptrend in the medium term it is too early. Now «base» to attack the bulls is the support on the 0.618 Fibonacci level formed in the Wake of rising from 126 to $ 140.
Also worth mentioning is the apparent pattern in the form of a symmetrical triangle on the 1 hour chart the cryptocurrency. His breakout in either direction will be strong and will determine further price movement for the current week.
Source: Included
The Readings of technical indicators while playing into the hands of the bulls. MACD is in bullish zone, and the RSI line slowly climbs up.
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