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ETH course analysis – Are we coming from the downward channel?

24. October 2018 // by admin

The share price recovered slightly. Temporarily a week maximum of 739.46 euro could be reached. Even if a slight upward trend could form, Ethereum moves sideways since reaching the weekly high and tests a resistance at 700 Euro.

The price for Bitcoin trader has risen this week

After last week’s crash an uptrend was formed for the Bitcoin trader, which is currently running into a resistance at about 700 Euro. The most important support is at 636.21 Euro, the most important resistance at 739.46 Euro. As also in the case of Bitcoin trader recovered well, moves however up-to-date sideways: The Ethereum course oscillates around the EMA100 and tried several times to rise over 700 euro. So far, this has only worked out sustainably on 10 February. On the positive side, however, the share price has been following a tentative upward trend since 7 February. Together with the development of the maxima since 3 February, the share price is moving in a triangle-like formation in which support and resistance converge. A positive breakout from this formation would be desirable, as we are moving close to the resistance of the downward-channel (marked violet) since mid-January.

The MACD (second panel from above) is just above zero. Furthermore, the MACD line (blue) currently rises above the signal (orange).

The RSI (third panel from above) is at 53 and thus neutral.

The price estimates presented by the crypto trader are not recommendations to buy or sell

Overall, the situation is neutral – as one would expect with the current sideways trend as seen here: Crypto Trader Review 2018 ยป Full Scam Check. Similar to last week, the behavior of the price at the downward-trends is interesting: A breakthrough through the blue resistance of the triangle-like formation would pave the way to crypto trader prices beyond the violet-marked downward-channel.

The support is defined by the blue upward-trend and is at 636.21 Euro. Falling below this level would mean an end to the existing upward trend. Should the price fall even lower, another interesting support line would be the EMA 840, which currently stands at 565.18 Euro. This corresponds to the EMA20 on the weekly chart, which is why breaching it for more than a week would be a warning signal for further downward movements.

The resistance is described by last week’s maximum price and is at 739.46 euros. A rise above this value would not only confirm the upward trend, the downward channel would also be tested. Another resistance is described by the price before the big fall and is 796,324 Euro.

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