- The outperformance of Ethereum of its peers is positive for the market.
- Ripple shows strength and holds up well against the pessimism of the market.
- Bitcoin pays dearly for its liabilities during the previous bullish moment.
The Crypto market continues to move down as a whole. This scenario of weakness will extend in the coming days.
If volatility does not increase, it is essential that falls are significant. However, you must be careful because if the speed of the price accelerates falls, they can get worse.
The ETH / USD chart in the weekly interval indicates that prices will tend to rise in the medium term. In the short term, some obstacles would technically lead to strong downward rejection movements. Moreover, according to this analysis, the turning point will occur in about two weeks.
The 240-minute MACD continues to cross but above the zero line. This situation provides some upside support, but we can not rule out a breakdown.
The 240-minute DMI shows us how bears are above the bulls, which are losing a lot of momentum. Both sides are under the ADX line, a situation favorable to violent changes of direction.
ETH / USD 240 minutes.
ETH / USD is currently trading at $ 209.8 price level, down 0.62% from yesterday's close.
Below the current price level, ETH / USD has all moving averages as support lines and with a certain distance between them. This situation is the big difference from the BTC / USD situation. The first support is a $ 209.4 (EMA50). The second level of support is $ 206.4 (SMA200 and support for price congestion). The third level of support a $ 204.23 (SMA100).
Above the current price, the first resistance is a $ 215 (resistance to price congestion). The second resistance is a $ 224 (resistance to price congestion). Exceeding this price level would strengthen the bullish movement. The third level of upward resistance awaits $ 236 (resistance to price congestion).
The 240-minute MACD is crossed but above the zero line. He has room to keep falling until he finds support for the indicator's level of balance.
The 240-minute DMI shows us that bears and tori are fully paired. Both are under the ADX line, which facilitates abrupt changes in direction.
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