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Ethereum is on the rise, thanks to the great expectation towards the updating of Constantinople which can best be described as an update for the digital currency that feeds the ICOs. The ether has already passed Ripple as a cryptocurrency n. 2 or king of Altcoin. What are the prospects after ETH / USD exceeded $ 150?
The indicator of technical confluence shows that the son of Vitalik Buterin has no resistance up to $161 where we see the convergence of last month's high, last week's high, and also the one day resistance of Pivot Point 3.
If it exceeds the level, the highest goal is $170. It is the meeting point of the Simple Moving Average 100 of a day and the Pivot Point Resistance of a month 1.
Looking down, the support waits around $147 which is the confluence of the Bollinger band 15 minutes down, SMA 10-1h, PP 1d-R1 and BB 4h-Upper.
The most significant support line is a $139 which is a dense mass that includes SMA 100-1h, BB 4h-Middle, SMA 501h, SMA 5-1d, SMA 200-15m and the very important Fibonacci 38.2% of a day.
Click to see the indicator of full confluence
Here's how it looks on the tool:
The Confluence Detector finds interesting opportunities using Technical Confluences. The TC is a tool to identify and indicate those price levels where there is a congestion of indicators, moving averages, Fibonacci levels, rotation points, etc. Knowing where these congestion points are located is very useful for the trader and can be used as a basis for different strategies.
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This tool assigns a certain amount of "weight" to each indicator and this "weight" can influence the price levels of the adjacent ones. These weightings mean that a price level without any indicator or moving average but under the influence of two "heavily weighted" levels accumulate more resistance than their neighbors. In these cases, the instrument signals resistance in apparently empty areas.
Further information on the technical confluence
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