Bitcoin, Crypto currency, Blockchain

Ethereum (ETH) – rate analysis KW21 – rupture of the Handles

05ab2d185e6ffb768a6d73a5e1b7bedb - Ethereum (ETH) - rate analysis KW21 - rupture of the Handles

Since the 16th century. May moved of course, only sideways, until he is then at a value of 600 Euro am 21. May came in a downward trend. So Ethereum shows a similar course like all other crypto-currencies. The Cup-and-Handle Pattern from the last rate analysis was negative broken.

Summary

  • The Ethereum-rate has fallen this week.
  • From the 21. May the price fell to the 50% Fibonacci Retracement Level, in the course of development between the beginning of April and beginning of may.
  • Overall, the evaluation is bearish. The most important Support is 448,37 Euro, first Resistance is at 542,48 Euro.

In the past week, was advised to open a Short Position. Who joined 572,87 Euro, will be happy. The exchange rate has fallen in the last week indicated Support. Here, the rate fell to the 50% Fibonacci Retracement Level, which was determined on the Basis of the price rally from the beginning of April and beginning of may. The course is struggling currently to this Level.

The MACD (second Panel from the top) is negative and falling. The MACD line (blue) is below the Signal (orange).

The RSI is at 20, and it is not only bearish, but since two days also oversold.

Overall, the Situation according to price, Trend and indicators bearish . However, the oversold RSI of an early Reversal is preparing, a little hope.

Support and Resistance

The first Support is located at 448,37 Euro and the 61,80% Fibonacci Retracement Level will be described. Further Support is provided by the Plateau of 13. up to the age of 18. April defined in 414,38 Euro.

First Resistance is the 38,20% Fibonacci Retracement Level at a value of 542,48 Euro. Through the course of this level break positive, a further Resistance in the 23,60% Fibonacci Retracement Level can be seen from 600,69 Euro.

Entry points, Stop Losses and Targets

The bearish assessment invites you to take a Short Position. Brave of you to immediately take a Short Position. The first Target can be based on the 61,80% Fibonacci Retracement Level of 448,37 Euro. Another Target is the Plateau of 13 would be then. up to the age of 18. April 414,38 Euro. For the case that the course should move to the North, is a Stop Loss on the 50 percent Fibonacci Retracement Level at 495,42 Euro useful. This Level can also be used as entry level for a Long Position. As a Target the above-mentioned Resistances. The Stop Loss for this strategy at the first Support in the amount of 448,37 Euro.

Disclaimer: The presented on this page, rate estimates do not constitute buy or sell recommendations. They are merely an assessment of the analysts.

Images on the Basis of data from kraken.com at 11:25 am on 24. May created. For a deeper understanding of the concepts of a course analysis is on the Link referenced.

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