Price analysis of Ethereum: Ether burns up to become crisp

Ethereum turned into a fire without a dumpster. Let's take a look at the pricing of Ethereum and see what it will take to change the price.

Ethereum price: overview of the market

2018 was a difficult year for the price of Ethereum 00 and at the moment it does not seem that the situation will improve. Among the first 5 cryptocurrencies, the disintegration of ETH prices has been nothing short of shocking and with the ICO market be declared dead by a growing number of analysts

Meanwhile, the SEC is constantly looking for what it seems to be unregistered securities sales and illegal marketing have put a lot of pressure preventing them from bouncing off the current lows.

ETH-USD shorts

Further pressures also come from a record number of short films (400,000) aimed at recovering ether and this seems to set the ETH price below $ 95. A break above $ 95 – $ 100 could cause some shorts to be covered and the price could range from $ 115 to $ 125.

However, it seems that a strong recovery driven by Bitcoin is the only catalyst able to set in motion this type of action.

ETH-USD Longs

Here is the table of long ETH / USD.

4 graph of human resources

ETH had traded in a shrinking range of $ 83 to $ 103, but a decline in the volume and model of lower highs meant that the price of Eth would collapse in the short term.

ETH under $ 85 is a problem and under $ 83 – $ 80 could be catastrophic. The model of the lower highs remains and the oversold of the ETH rebounds on the Stoch and the RSI is decreasing in the amount of lost ground recovered.

Long has 300,000 open contracts and a fall below $ 80 could accelerate ETH losses and the considerable support gap of less than $ 80 could bring the ETH price to $ 60, if not $ 41.

1HR chart

The price of Ethereum dropped to $ 89, $ 87.60, $ 85.90. Now $ 83 – $ 80 seems to be the last support before a heavy fall. Ambitious traders should wait patiently for a bullish pattern to show up or attempt to capture and hypervendre the rebound if ETH falls below $ 83.

But setting a tight stop loss would be wise to protect yourself from the possibility of a sharp drop below $ 80.

[Disclaimer: The views expressed in this article are not intended as investment advice. Market data is provided by Bitfinex. The charts for analysis are provided by TradingView.]

Where do you think the price of Ethereum will go beyond the short term? Share your thoughts in the comments below!

Images courtesy of Shutterstock, Trading View. Market data from Coinbase and Bitfinex.