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/ Ultima / 2018/11 / -Ethereum-ETH-long term-price-analysis-17 /
Long-term price analysis of Ethereum (ETH)
-Ethereum-ETH-long term-price-analysis-17
- The Ethereum range of $ 220 to $ 200 was exceeded at the start of this month when it dropped to almost $ 160.
- In the next ETH trading sessions it is bound to drop a little more.
ETHUSD Long-term trend: range
Distribution territories: $ 250, $ 350, $ 450.
Accumulation territories: $ 150, $ 100, $ 50.
On November 7th, Ethereum saw its price fall against the US dollar which included a lower minimum in the range of $ 220 to $ 200. The range was subsequently violated in the south on November 14, as its price approached $ 10, a minimum that was not seen since September 12th.
TradingView Ethereum Chart
It seems that the market is starting new movements that have been going on for three days. The two SMAs of Ethereum have their own lines of tendency located within the aforementioned range, with a short space separating them. The 50-day SMA exceeds the 14-day SMA. The stochastic oscillators have moved southward beyond radius 20 in the oversold zone.
They seem to try to dive further. Such price movements could indicate that the cryptocurrency could enter a consolidation, which will simply represent the presence of bears. In the next ETH trading sessions it is bound to drop a little more. Two key price territories have been observed and a trend reversal is expected soon.
The opinions and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your research.
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