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Price analysis of Ethereum (ETH) – September 10
ethereum-eth-price-analysis-september-10 [19659004] Bearish Affection in both the Medium and the Short-term
Ethereum Chart of TradingView
Ethereum Price Medium-Term Trend: Bearish
Supply Zones: $ 400, $ 450, $ 500
Application Zones: $ 150, $ 100, $ 50
ETH remains in a bearish trend in the medium-term prospects. ETH had fallen to $ 185.12 in the demand area. This was a new test of the demand area since July 31, 2017, after a bullish railroad formed on July 17th.
The retracement to $ 208.37 in the supply area by the bulls was short-lived when the bears returned. The 10-EMA is seen as a strong resistance to further movements towards the top.
Bears still hold control and while more candles are formed and close under 10-EMA, $ 150.00 in the required area may be the bear's goal in the medium term
Ethereum Price Short-term trend: Bearish
Ethereum Chart of TradingView
ETH is in a bearish trend with short-term prospects. The strong bearish pressure broke the resistance of $ 211.29 in the lower demand area of the September 8th interval. The price had further dropped to $ 185.15 in the demand area after the new test on the lower demand area was damaged.
Exhaustion occurs as a wick in the candle in the demand area which, on the contrary, implies the gradual return of the bulls joined to the bullish top in the area.
The big bullish engulfing candle signaled bulls' return while the cryptocurrency reached a maximum of $ 208.37 in the supply area on 9 September.
The price is around 10-EMA and below the 50-EMA and the indication of bears strong the current bullish pressure and momentum may be a withdrawal for the continuation of bearish trend.
The opinions and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your research
