Low volatility A step forward?

November 12, 2018 Ethereum

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The Crypto market is really getting very tense lately. Not much has changed in price levels since our last price analysis, but we can see that the volume of BTC is steadily declining.

ETH is currently trading at the $ 210 level. We have not seen too much volatility in the ETH chart over the past three days. Price volatility was less than 3%, which is very low compared to Ethereum.

Looking at the 4-hour chart

ETH receives strong support from the price territory from $ 206 to $ 205. This area acts as a long-term resistance.
The 200 EMA and 55EMA are joining forces to also support the price level.
If the sellers take control and manage to pull the ETH price below this strong level of support, the price will probably come back to $ 192. But if ETH will maintain this level of support, given that at the moment it seems, we could soon see a very nice mini-rally.
In the previous case, the first target could be at the price level of $ 224, but if the bulls show strength, we could go directly to the $ 250 area for ETH.

ETH-USD 11-11

Graph 1st day BitStamp ETH / USD

It is evident in the following daily chart that ETH is playing with a historical price level between $ 200 and $ 220.

ETH has developed a triangular formation on this level of historical support and is now approaching more and more towards the apex of the triangle (where the triangle's contraction lines meet). The volume typically falls to the apex of the triangle and we should see a fairly aggressive move towards ETH, one of the sides that will come very soon.

eth_nov12d-min