Analysis of long-term prices of Ethereum (ETH)



/ 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, ETHUSD, Cryptocompare chart 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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