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/ latest version 2018/08 / ethereum-eth-long-term-price-analysis-6 /
Ethereum (ETH) Long-term price analysis
ethereum-et-long-term-price- analysis -6
- Initially Ethereum was able to stay around the $ 300 mark or slightly above it on August 19th.
- A breakout above $ 315 could see the crypt rise to $ 325 or $ 340 as an extension.
ETHUSD Long -Test Trend – Ranging
Distribution Territories: $ 600, $ 650, $ 700
Accumulating land: $ 200, $ 150, $ 100
Last week Ethereum lost a significant amount of value compared to the dollar. The ETH initially had a price of around $ 300 or a bit more than that of August 19th. On 20 August, the crypt suddenly fell but did not fall below the last lowest point reached on 14 August
Ethereum Chart by TradingView
Current movements are underway since 21 August. The price of Ethereum had both lower and lower minimums around $ 300, below the 14-day SMA trend line.
There is a significant gap between the two SMAs as SMA 50 days is located above the 14-day SMA. Stochastic oscillators have traversed the radius below the 20 range. They are apparently consolidating below it to suggest that long positions should not be inserted for the time being. It is still unclear whether ETH is set for recovery as soon as possible.
However, a breakout of more than $ 315 could see the crypt rise to $ 325 or $ 340 as an extension. Investors may now consider buying this cryptocurrency, while traders may expect the price to go in a high direction before entering long positions.
The opinions and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your research.
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