/ Ultima / 2018/12 / -Ethereum-ETH-long term-price-analysis-December-29 /
Long-term price analysis of Ethereum (ETH) – 29 December
ETHUSD Long-term trend: bullish
- Distribution territories: $ 180, $ 200, $ 220
- Accumulation territories: $ 60, $ 40, $ 20
Last week, the price of Ethereum shifted towards the US dollar, and this saw the sign of $ 160 on December 24th. As a result, cryptocurrency faced a correction that brought it to $ 140, and subsequently to an area close to its 14-day SMA on December 27th.
TradingView Ethereum Chart
Currently, cryptocurrency seems to find support in the 14-day SMA and has recently passed the 50-day SMA that might see it entering another uptrend. The 14-day SMA is bent to the north, below the 50-day SMA.
Stochastic oscillators have exceeded range 60 and are now apparently trying to start a consolidation movement around it. This suggests that further exchanges could be suspended for a while. If ETH sees a bullish movement being rejected at $ 160, it can expect to fall to $ 140 or even $ 100.
The opinions and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your research.