Ethereum Weekly Price Analysis – April 8

ETHUSD Long-term Trend – Bearish
Distribution territories: $500.00, $600.00, $700.00.
Accumulation territories: $300.00, $200.00, $100.00.

This week ETHUSD pair continues to trend southward almost the same bearish outlook as last week’s formation. On April 3rd, the price managed to form a lower high above distribution territory of $400.00, April 4th marked another noticeable bearish movement in the market. Presently, price has also moved deeply southward and has now been trading around the accumulation territory of $400.00.

Moving average 50 is far above moving average 13. The price action has been traded along the bearish path of moving average 13 consecutively with a wide space notification to moving average 50. The stochastic oscillator remains crossed into the oversold zone and also pointing southward. However, the current price trend could, in the long-term, accumulate momentum from breaking below the next accumulation territory of $300.00 and form a trading range towards another accumulation territory of $200.00. Pit stops can be experienced if that eventually cropped up. Traders can look out at that point in time to take on the bull from a reversal or a pullback which can lead to a potential markup in price in the next few weeks.

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.

Source: https://www.cryptoglobe.com/markets/price-analysis/

Bitcoin Price Analysis – April 10

BTCUSD Medium-term Trend: Ranging

Resistance: $7,100, $7,000, $6,900
Support: $6,500, $6,600, $6,700
Yesterday, April 9, the price of Bitcoin was in a bullish trend. Bitcoin traded up to $7,200 before the bears took control of the market and brought price to its low at $6,786.67. Price has resumed its range bound movement because neither the bulls, nor the bears have control of price. From the weekly chart, the support at $6,500 and the resistance at $7,500 have been strong key levels for the price of Bitcoin.
These key levels have been holding since March 30, 2018. The bears have been resisted by the bulls at the support level; therefore price is expected to rise again or fluctuates. Traders can adopt a range bound strategy in a situation where price is in a range bound movement. I don’t see price breaking the support level but if it does traders should short their positions.
I expect price to rise again or fluctuates in a range bound movement. Now look at the weekly chart. If you had followed the range bound movement since March 30, 2018, you would have had the opportunity of placing two long trades and a short trade. In a range bound strategy, you take a long trade at the support level and exit near the resistance zone.
On the other hand, you take a short trade at the resistance level and exit near the support zone.
BTCUSD Short-term Trend: Ranging

From the daily chart, the BTCUSD pair is in a range bound movement. Price is oscillating between the resistance at $6,800 and the support at $6,600.
The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.
Source: shttps://www.cryptoglobe.com/latest/2018/04/bitcoin-price-analysis-april-10/

Ethereum Price Analysis – April 25
ETHUSD Medium-term Trend: Bullish

Resistance: $680, $670, $660
Support: $620, $630, $640
Yesterday, April 24, Ethereum price was in a bullish market and reached the resistance level at $700. The bulls have attempted breaking the resistance level without success. The reason for this is that the resistance level was previously a strong support level that was broken by the bears on March 13, 2018. Today, the asset is trading at $644.55 at the time of writing.
Nevertheless, in the weekly chart, the ETHUSD pair traded up to $709, but was resisted by the bears. The price fell to the $640 low. However, although the price has fallen as per the indicators and price action; the overall trend is bullish. In the weekly chart, the MACD line and the signal line are below the zero line, indicating that the market is bearish.
The 12-day EMA is above the 26-day one and are below the price, indicating that the bullish trend is ongoing.
ETHUSD Short-term trend: Ranging

n the daily chart, the price is in a range bound movement. Ethereum was ranging at the $700 resistance level. At $670, the bulls took the price to the resistance zone and were resisted by the bulls at $710. Then there was a pullback to the $640 low when the market went into a range bound movement.
The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.
Source: https://www.cryptoglobe.com/markets/price-analysis

Ethereum Price Analysis – May 3

ETHUSD Medium-term Trend: Bullish

Resistance: $760, $750, $740
Support: $690, $700, $710

The ETHUSD pair was in a ranging market yesterday. Price of the asset was ranging from the resistance level at $700 to the support level at $650. The MACD line and the signal line are below the zero line. Today, the ETHUSD pair is currently trading at $716.13 as at the time of writing. However, from the weekly chart, the price of the asset has broken the resistance level at $700.

The price of the asset may likely reach the highs of $750 and $800. Meanwhile, the MACD line and the signal line are above the zero line indicating that price of the asset is bullish. The price bars are above the 12-day EMA and 26-day EMA indicating that the current trend is ongoing. Traders have a buy signal because the MACD line crosses above the signal line.
ETHUSD Short-term trend: Bullish

In the daily chart, price of Ethereum is in a bullish market. From the chart, the price of the asset had been in a range bound movement for days before it encounters a bullish movement to the high of $720. A positive histogram shows as soon as the MACD line crosses above the signal line indicating a buy signal.


The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.

Source: https://www.cryptoglobe.com/markets/price-analysis