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/ latest version 2018/08 / ethereum-eth-long-term-price-analysis-4 /
Ethereum (ETH) Long-term price analysis
ethereum-et-long-term-price- analysis -4
- The bears were brave enough to push the market further, as ETH saw the $ 400 accumulation territory broken south.
- The intersection of the SMA of 50 days from the bottom for the SMA of 14 days will serve as a strong signal for the return of the bulls in the market.
Long-term trends of ETHUSD – Bearish
Distribution territories: $ 600, $ 650, $ 700
Accumulation territories: $ 250, $ 200, $ 150. [19659008] Ethereum has in recent months lost a significant amount of value compared to the US dollar. The cryptocurrency further saw the price drop last week. On 7 August the bears were brave enough to push the market further down, as ETH saw the $ 400 accumulation territory being destroyed south.
Ethereum Chart by TradingView
Bears have finally pushed the market beyond its last low price line that was obtained around the $ 345 accumulation territory on April 1st. The ETH has been actively oriented south far below the two SMAs. The 14-day SMA has moved the accumulation territory of $ 400 and is below the 50-day SMA.
Stochastic Oscillators have plunged themselves deeply into the oversold zone, yet they are apparently consolidating their positions in favor of a southward direction. This means that the current downward trend is not over yet. Until a sudden, strong move to the top helps convincingly increase ETH, the cryptocurrency may be under pressure for a few days or weeks.
The intersection of the SMA of 50 days from the bottom for the SMA of 14 days will have to serve as a strong signal for the return of the bulls in the market. Investors may consider buying at a lower price of around $ 250. Traders can watch for a decent bearish reversal to get a good long entry
The points of view and the opinions expressed herein do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your research.
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