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Forex Stock Exchange Forum » Forex and Stock Trading English Forum » Cryptocurrency » Ethereum ETH-USD Price Analysis

Ethereum ETH-USD Price Analysis

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1attention Ethereum ETH-USD Price Analysis Thu Sep 13, 2018 10:14 am

I_Robot

I_Robot

Ethereum: technical analysis

2018-09-13 10:08 (GMT+2)


Current trend

Quotations of Ether have been at the level of 187.50 (Murrey [3/8]) for several days and can begin the upward correction within the downtrend in the near future. The level of 250.00 (Murrey [4/8], the center line of Bollinger Bands, the upper boundary of the descending channel) can become the target of the correction. Stochastic's exit out of the oversold area points at the possibility of growth. 

At the same time, Bollinger Bands' downward reversal and stabilizing of MACD histogram in the negative zone indicates the preservation of a downtrend. If the price fails to consolidate above 187.50, the fall to the levels of 125.00 (Murrey [2/8]) and 100.00 may resume. In general, the pair is waiting for serious drivers for further movement.


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Support and resistance

  • Resistance levels: 187.50, 250.00, 312.50.
  • Support levels: 125.00, 100.00, 62.50.


Trading tips

  • Long positions may be opened from the level of 195.00 with target at 250.00 and stop loss at 250.00.
  • Short positions may be opened from the level of 180.00 or 250.00 with targets at 125.00, 100.00 and stop loss at 200.00 or 270.00 respectively.
  • Implementation period: 3-5 days.


Scenario

  • Timeframe Weekly
  • Recommendation BUY STOP
  • Entry Point 195.00
  • Take Profit 250.00
  • Stop Loss 175.00
  • Key Levels 62.50, 100.00, 125.00, 187.50, 250.00, 312.50

Alternative scenario

  • Recommendation SELL STOP
  • Entry Point 180.00
  • Take Profit 125.00, 100.00
  • Stop Loss 200.00
  • Key Levels 62.50, 100.00, 125.00, 187.50, 250.00, 312.50

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