Price analysis of Ethereum: bullish eyes

• The crypto market could end the year in losses as the crypt continues to deflate.
• The price of Ethereum trades the lowest and lowest highs within a downtrend channel.
• A break from the channel's resistance to see earnings increase considerably.

It is likely that the cryptography market will stop its year-end trend that has seen digital assets increase significantly in the last three years since 2015. The price of Ethereum, the price of Bitcoin and other assets have usually posted better results in the year. last month of the year. However, the current market trend at the moment suggests that the cryptos will close the year before the start of recovery.

At the time of writing this article, Ethereum can be seen exchanging within the confines of a bear channel in the hourly time chart. The price, which is exchanging hands at $ 107, broke half-channel support at $ 110 during the Asian trading hours on Wednesday.

Ethereum is still trading below the moving averages. Likewise, the short-term 100 SMA continues to grind further below the 200 SMA (1 hour). It means that the resource will continue to grind south as the path of least resistance. The positive side is made up of various 100 SMA barriers currently at $ 109.36 and the SMA 200 at $ 113.14. ETH / USD buyers claim support for $ 110 to overcome the support of the downtrend channel.

The bulls are still present, while their purchasing power is limited, it is likely that they will be able to defend short-term support for $ 105. Another Ethereum support is $ 100. The RSI on the same time slot touches the point of view of the oversold point, but is aiming towards the top at the moment to show that the buying pressure is increasing. However, the MACD is still stuck in the negative zone to show that the sellers are also present and will make recovery a difficult task as well as risk a further rupture of $ 100.

Read more

Ethereum (ETH): the bulls snap out of hibernation while the frames gather

Price analysis of Bitcoin: a triangular breakout is attested

Chart ETH / USD 60 & # 39;