Bitcoin, Crypto currency, Blockchain

Ethereum (ETH) – rate analysis KW23 – The dance around the EMAs

After a sideways movement of up to 2. June, the Ethereum-course overcome the exponential moving averages EMA50 and EMA100. The rate rebounded, however, since early may, continuing a downward trend and is testing these currently.

Summary

  • The Ethereum-rate is increased this week.
  • After a Test of the since 6. May, continuing a downward trend, the price fell back to the EMA50, however, is currently at the height of the EMA100.
  • Overall, the evaluation is neutral. The most important Support is 492,62 Euro, first Resistance is at 540,71 Euro.

After the course for two days just below the exponential moving moving average EMA50 sideways, was able to overcome the Ethereum course, following not only the EMA50, but also the EMA100. On since the beginning of may, continuing the trend from Downward bounced off the course and fell briefly below the EMA50. Currently the price is testing a second Time the EMA100. Since the beginning of may, continuing a downward trend together with a since the end of may continued upward trend in a kind of Triangle Pattern, the Resistance is currently being tested.

In the long term, Ethereum moves-course in addition since the middle of February followed the Triangle Pattern, whose Support was tested at the end of may:

The MACD (second Panel from the top) in the four hour chart leaves a bit mixed feelings: Although it is positive, however. The MACD line (blue) is available since today morning the Signal (orange), threatens to fall, but again the same thing.

The RSI is at 53 and is at best slightly bullish.

Overall, the Situation according to price, Trend and indicators neutral .

Support and Resistance

Apart from the EMA50 is the first Support for 492,62 Euro and by the end of may, traversed the Plateau described. A further Support is provided by the Dip from the 30. May be defined in 465,65 Euro. This coincides currently with the Support of the daily chart plotted Triangle Patterns.

As the first Resistance beyond what is currently tested downtrend in the week, maximum at a value of 540,71 Euro. Breaks through the course of this level, the price level of 13. to 21. May in the amount of 609,83 Euro, a further Resistance.

Entry points, Stop Losses and Targets

A Long Position you should take, if the price bounces off of either one of the above Support or on the first Resistance at 540,71 Euro could rise. In the first case, the EMA50 would be, currently at 506,71 Euro, a good starting point, the two Resistances are good Targets and the first Support 492,62 Euro a good Stop Loss. In the second case, this initial Resistance would be a good entry point, while the EMA100 could be used in 516,82 Euro as a Stop Loss. As the first Target you could aim for the second Resistance in the case of 609,83 Euro. Thrill seekers could create a Test of the Resistance of the large Triangle Patterns, and another Target at 650 Euro.

The course should bring the current Test of EMA100 successfully, you could open a case under the first Support 492,62 Euro a Short Position. As a Stop Loss the EMA50, currently at about 507 Euro. The first Target would be at 465,65 Euro. The rate should continue to fall, could rate level in the amount of 440 euros and 414 euros will be targeted. 440 euros, by the month, minimum, in may described Support would be, while the Support at 414 Euro at the height of the plateau from 13. until the 19th century. April is.

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 10:32 PM on 06. June created. For a deeper understanding of the concepts of a course analysis is on the Link referenced.

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