Bitcoin, Crypto currency, Blockchain

Ethereum (ETH) – rate analysis KW22 – recovery in sight?

The exchange rate has fallen this week to 436 Euro and tested the last week described 61.8-percent Fibonacci Retracement Level. There, the price could bounce off and trying the 50% Fibonacci Retracement Level to break through.

Summary

  • The Ethereum-rate has fallen this week.
  • From the 21. May the price fell to the 61.8% Fibonacci Retracement Level, in the course of development between the beginning of April and beginning of may, but was able to go back to the 50% Fibonacci Retracement Level
  • Overall, the evaluation is rather bullish. The most important Support is 448,37 Euro, first Resistance is at 499,89 Euro.

Who opened in the last week, a Short Position and the first Target anpeilte, you can be lucky. This has been achieved, before the course was able to recover and currently the 50% Fibonacci Retracement-testing Level. Specifically, the course is on 30. May bounce, and sets to a second Test of this Resistance.

The MACD (second Panel from the top) full of hope: on the whole, he is still negative, but is back on the Rise. The MACD line (blue) is above the Signal (orange).

The RSI is at 51 and is thus neutral.

Overall, the Situation according to price, Trend and indicators more bullish estimate.

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.

As the first Resistance provides the EMA50 at a value of 499,89 Euro. Through the course of this level break positive, can be seen a further Resistance to the EMA100, currently in the amount of 525,30 Euro.

Entry points, Stop Losses and Targets

Even if the indicators speak a positive language, you should not plunge without hesitation into a Long Position. Rather, it is advisable to Rise above the EMA100-described second Resistance at 525,30 Euro in such a enter to set the first Resistance in the amount of 499,89 a Stop Loss and to choose as the Targets of 38.2 percent and the 23.6 percent Fibonacci Retracement Level.

The price should bounce off the EMA100, would be a case under the EMA50 a good entry point for a Short Position, in which the above-mentioned Support, represent good Targets. As a Stop Loss, you would take the EMA100.

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 11:13 PM on 31 December. May created. For a deeper understanding of the concepts of a course analysis is on the Link referenced.

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