/ Ultima / 2018/11 / -Ethereum-ETH-long term-price-analysis-24 November /
Long-term price analysis of Ethereum (ETH) – 24 November
ETHUSD Long-term trend – Bearish
Distribution territories: $ 220, $ 240, $ 260.
Accumulation territories: $ 100, $ 80, $ 60.
The price of Ethereum has fluctuated in the last trading sessions before the big crash in the cryptography market, between $ 180 and $ 160 in prices. The cryptocurrency presented short ups and downs at the time.
TradingView Ethereum Chart
On November 18, the cryptocurrency saw its price move north to test the top of its radius, but then began to fall the next day. November 19 dropped from $ 177 to less than $ 120 on November 13th.
The 14-day SMA is currently below the 50-day SMA and both are above the ETH price line. The stochastic oscillators have immersed themselves in the oversold zone and are consolidating within it. This showed a strong potential for a bearish trend in the coming days.
A breakout at this point is not something to talk about, even if an inversion could come at a time when ETH reaches the mark of $ 120 or $ 100.
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