The results of the week: Ethereum once again on the verge of a breakthrough. Will there be growth?
Source:
is preparing for a new leap — it is now the fate of cryptocurrency for the next couple of weeks. Most likely, the asset will continue to grow as long as it remains above the support zone of $ 132. At the moment this level is a major local landmark for the bulls.
The Overall situation looks like this:
the-
the
- price Ethereum fell slightly, but rebounded from the line 132 USD; the
- on a scale of 4-hour chart has formed a typical pattern prior to a sharp jump in the cryptocurrency; the
- dynamics of bidding will pick up momentum after breaking above $ 140.
Today Ethereum is trading at 137 dollars. For the past day the asset has not changed in price.
theTechnical analysis
After a gradual growth up to 144 USD trading pair of ETH/USD has entered a stage of correction. Some time later, the Ethereum fell below $ 140, giving the bears confidence in the further decline of the asset. Finally, sellers attempted to lower the price of the coin below the 100 SMA, but met with a desperate resistance of buyers.
Recently, the Ethereum began to regain their lost position and climbed above $ 135. At the moment, bitcoin is trading near the 100 SMA on a scale of 4-hour chart. Support is also at 0.5 Fibonacci laid on a wave of growth from 132 to 138 dollars.
Source: Included
Finally, the most important factor is generated on the chart pattern preceding a sharp jerk of the asset. In the case of break up, the Ethereum have all chances to climb up to 143 dollars, there is now a local main line of resistance. Falling down is also possible — in this case, the Ether will easily fall to 124 dollars.
The Readings of technical indicators are not yet of great interest — the MACD line is relatively straight, and the RSI went a bit to the bearish zone. Over the course of ETH and other coins follow .
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