Analysis of the price of Ethereum (ETH) – 13 August

Ethereum Chart by TradingView [19659008] Medium-term trend in the price of Ethereum:

Supply Zones: $ 400, $ 450, $ 500

Demand Zones : $ 200, $ 150, $ 100

ETH in the medium-term range. The strong downward pressure was sustained leading to a break of $ 346.62 at the lower price range of demand analyzed on August 10th. The rising bearish momentum pushed the cryptocurrency further down to $ 305.10 in the demand area.

Bears have therefore lost momentum because the refusal of the downward continuation has been seen in candles with wicks. The bullish bullish candle was an indication that the bulls returned.

The stochastic oscillator is at 32% and its signal points towards the top which signals the upward movement for the cryptocurrency within the interval. ETH continues to fluctuate and trades between $ 354.88 in the upper bidding area and $ 308.57 in the lower demand area of ​​its range. Traders should be patient and wait for a break at the upper limit to go long or a breakdown at the lower range for a short position.

Short-term trend of the price of Ethereum: Ranging

Chart of Ethereum of TradingView

ETH returns to consolidation in its short-term outlook. The bullish momentum pushed its price from $ 327.35 in the supply area to $ 315.89 in the demand area below the 10-day EMA. The formation of a bullish top has brought to the fore the bulls whose pressure has pushed the price to go up the supply area to $ 327.93

The oscillator is stochastic at 22% and its signal it is parallel that reflects the current scenario. Trade between $ 327.44 in the upper supply area and $ 315.88 in the lower demand area. Operators should be patient and wait for a breakout or break before taking a position.

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