Home / Ethereum / Price analysis of Ethereum | November 30, 2018 ⋆ ZyCrypto

Price analysis of Ethereum | November 30, 2018 ⋆ ZyCrypto



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Offer levels: $ 124, $ 139, $ 151

Demand levels: $ 113, $ 102, $ 91

AndTH / USD Medium-term trend: variable

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In the medium term, ETH / USD is changing. There was a bullish momentum from the price level of less than $ 102 to the bid level of $ 124 that serves as the last part to complete the "double bottom" model formed on the 4-hour chart on the ETH market. The price was offset by the dynamic resistance of 50-day EMA combined with the barrier to a bid level of $ 124 and the price began to consolidate in the $ 124 and $ 113 range.

The ETH price is traded between the 21-day EMA and the 50-day EMA, with the two EMAs, horizontally parallel to one another as a sign of consolidation. In the event that there is a net penetration above the bid level of $ 124, the bullish rise will advance to the bid level of $ 139 – $ 51. A breakout below the $ 113 demand level will further decline in the price to the level of $ 102 – $ 91. Meanwhile, the Relative Strength Index (RSI) is flat, with no direction indicating a continuation of the movement of variation

Short-term trend ETH / USD: variable

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ETH is going in its short-term perspective. ETH started to go inside the price level of $ 124 and $ 113 on November 28, after the Bulls lost momentum to push the currency higher than the $ bid level 124.

The two EMAs are closed one with the other with the ETH price on it indicating that consolidation is underway. However, the Relative Strength Index (RSI) is above level 40 which points towards the top and indicates the purchase signal. It is recommended that traders remain flat and wait for the breakout.

What is your thought on this ?, let us know in the comments section below.


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