Technical analysis of Ethereum (ETH)


Regardless of this flat price action, it is likely that we could see a recovery in short-term prices only if buyers push prices above the highs of August 17 to $ 330 or so. In the meantime, however, Ethereum (ETH) is down 2% in the last day as the community eagerly receives IE Bakkt and their effort to encrypt.

From the News

Earlier this month, International Exchange, the company that owns the New York Stock Exchange announced that it will establish a new company Bakkt with the sole purpose of creating the lack of a regulatory framework that facilitates the rapid discovery of prices and the creation of the infrastructure necessary for trading, storing and spending more high cryptocurrency as simple as possible.

Often it is the part about adoption that is difficult when a new product is attempting to enter the mainstream, but once done, it is usually a new cycle of value creation that benefits the first investors. Bakkt is made up of several traditional market leaders such as Microsoft, Alan Howard, Galaxy Digital and several blockchain centric venture capital companies and while they plan to launch in November of this year, the group is receiving tremendous support from the crypto community, comparing their efforts with those of the first engines of Internet adoption such as ICANN.

In an attempt to undo the rumors that occurred in the encrypted world, Vitalik led to Twitter explaining Casper's genesis and goals Labs, how the network plans Tackle long-range attacks and how Friendly Finality Gadget (FFG) has a better integrated design that conforms to other blockchains that add purpose guarantees.

Technical Analysis

Weekly Chart

  Ethereum (ETH) Technical Analysis

Weekly Chart of Ethereum for Trading View

Price is reasonable, bears are in charge and after losing four percent in 39, last week, it seems that the sellers of Ethereum synchronize well with that break under the model of the week ending August 12.

Notice that the bearish wrapping candlestick anchors our current price projection and as for our previous Ethereum business plans (ETH), sellers are in charge and despite recent attempts at higher highs, it will be a high order for buyers gather enough momentum and print prices above $ 400.

In any case, last week's candle bear confirms the breakout pattern and until prices fall below last week highs to $ 330, we suggest making shorts at all the higher levels in less time.

Daily Chart [19659018] Ethereum (ETH) Technical Analysis ” width=”1280″ height=”1024″/>

Ethereum Daily Chart by Trading View

Although we had a convincing inversion model of three bars by the end of August 17 that the bull's inversion model has yet to be confirmed and in real-sense prices fluctuate by August 17, bullish, swallowing high levels.

Technically, we will keep a bearish projection as long as prices fall below $ 400 and so it is, today close we will define our short between

If today's candlestick closes like a bear, then we will take shorts from tomorrow with arrests at $ 300 and first targets at $ 200.

However, if the bulls push prices higher, we recommend taking small longs with a stop at $ 280 and first goals for $ 400.

Disclaimer: The opinions and opinions expressed are those of the author and do not constitute an investment advice. Trading any form involves risks, as well as your due diligence before making a commercial decision.

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