Ethereal price and technical analysis: no positive news for ETH


Photo: Roboforex / TradingView

Photo: Roboforex / TradingView

Ether is moving slowly around November 29, trading at $ 122.20, reports Dmitriy Gurkovsky, Chief Analyst of RoboForex.

On H1, the price is moving into the short-term correction phase. This was signaled by the MACD convergence before, after which the downward trend was decomposed and the pullback began, forming a flag. After testing the upper limit of the correction channel, the price has returned, which may result in a downward movement with the target on the medium ($ 100.64). However, this pullback may not last long, and the price may soon rise again, as with MACD signals. The upward correction targets may be 23.6% ($ 127.64) and Fibo's 38.2% ($ 146.08).

Meanwhile, a Chinese ministry published the umpteenth encryption classification, where Ether and EOS were driving the parade. This assessment is updated every month and managers remain unchanged for 7 months.

Curiously, Bitcoin has moved some positions to the top, starting at 19th to 13th. In turn, Ethereum is a leader because of its practical feasibility, while EOS is highly ranked thanks to its unique technology.

Another specific piece of Ether came from the K-level which found that the altcoin had some problems. Because of network leaks, users were able to get coins literally from scratch, using a type of malware. To solve this problem, the developers of Ethereum must activate additional protection. The exchanges, however, solved this problem as soon as it became famous.

In recent days, the crypto market cap has gone seriously. However, the outlook is rather pessimistic than optimistic, as there is very little positive news out there.

Disclaimer: Any provision contained in this document is based on the particular opinion of the authors. This analysis should not be treated as a trading advice. RoboForex can not be held responsible for the results of trading resulting from the trading recommendations and reviews contained in this document.

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