This week fell the Ethereum price to 8. 90 EUR (9. 83 USD). After traversing a triangle pattern, the price is currently at 9. 49 EUR (10. 48 USD).
Summary: The triangle pattern last week was broken down and fell to 8. 90 EUR (9. 83 USD).
- On July 8, the price recovered and rose to EUR 10.55 (USD 11.65).
- Also on July 8, the course began to form in a triangle pattern, which was broken down today. Currently the price is 9. 49 EUR (10. 48 USD).
The MACD (second panel from above) has a bearish crossover of the Nullin line after the second triangle, a rather negative sign in the medium term. Likewise, the MACD line (blue) is below the signal (orange), which is also bearish. However, the signal tries to get it on a bullish crossover. This would be a short-term positive course correction.
The RSI (third panel from the top) is currently quite bearish. After the RSI slipped over the Triangle Pattern into the overpriced, the course recovered easily, but is still far from any positive signs.
The Accumulation / Distribution Chart (fourth panel) had a decent dip in the breakout but has since recovered. Overall, the Accumulation / Distribution Chart has risen slightly since July 9, which is quite positive. One sees: the indicators contradict each other somewhat. In order to make easy predictions, we will take another look from a slightly different angle on the data.New Uptrend Has Arrived?
Looking at the last two weeks, we see that on July 9 a longer downtrend was broken and an uptrend began. We see that the Ethereum course is currently testing the course defined by the Uptrend. While the support is defined by this Uptrend, the Resistance is currently defined by the EMA100. Should the support hold, the course will first climb further, yes, if the resistance is broken, a new, longer-term uptrend could come again. However, if this support does not hold, another price decline is likely.
Disclaimer: The price estimates presented on this page do not constitute a recommendation to buy or sell. They are merely an estimate of the analyst.
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Image is created based on data from kraken com.