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Ethereum (ETH) Long-term price analysis
ethereum-et-long-term-price- analysis -8
- The price of Ethereum can still fall to a minimum of $ 150 in the next few days
- A strong reversal of $ 200 could lead to a bullish movement.
ETHUSD long-term trend – Bearish
Distribution territories: $ 400, $ 450, $ 500.
Accumulation territories: $ 150, $ 100, $ 50.
Give a & # 39 Look at the price charts you can see that the ETHUSD pair was moving in an area with a range limit between August 20 and September 4. Ethereum has now violated the boundaries of the area marked by the distribution and accumulation territories of $ 300 and $ 270 southward at a low price of $ 225, on September 5th.
Ethereum chart by TradingView
Since then, the cryptocurrency has further seen its price decline. Currently, the cryptocurrency is trading a little over the $ 200 territory, although it has seen a minimum of $ 185. It is below the 14-day SMA trend line, which is under the $ 300 mark. The 50-day SMA is above the 14-day SMA with a distinct gap between them.
Stochastic Oscillators are now immersed in the oversold region. This indicates that downward movements are not over. The strength behind this downward trend could see the drop fall to a minimum that can reach $ 150 in the coming days. A strong reversal worth $ 200 could lead to a bullish movement. Operators are advised to look for such a reversal and to place a long position on it
The opinions and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute a financial council. Always do your research.
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