Bitcoin, Crypto currency, Blockchain

Ethereum (ETH) – rate analysis KW24 – Ethereum-price dropped to 400 Euro

A successful Retest of the EMA100-described Resistance was developed to a price fall to just under 400 euros. Since mid-April, the gains were repealed. A long-term perspective of the Ethereum-rate is now moving in a since November 2017 ongoing Triangle Pattern.

Summary

  • The Ethereum-rate has fallen this week.
  • After a final Test of EMA100, the price fell below all in the last week indicated Support.
  • Overall, the evaluation is neutral. The most important Support is 492,62 Euro, first Resistance is at 540,71 Euro.

In the last week on either a Rise above the EMA100 to Start a Long Position to be seen, or open to the approximately 490 Euro Support a Short Position. The latter scenario occurred, and short eller were able to enjoy the achievement of two specified Targets. The rate fell even deeper and left Pattern since February, pursued a Triangle. The rate fell back in November traversed the Plateau.

In the long term, Ethereum is on the move-price now since the middle of November 2017 persecuted Triangle Pattern, whose Support was tested at the end of March:

The MACD (second Panel from the top) in the four hour chart leaves mixed feelings: While the MACD line (blue) and, most Recently, the Signal (orange), however, are both negative.

The RSI is at 37 and is clearly bearish. In the last days of the RSI was oversold twice.

Overall, the Situation according to price, Trend and indicators bearish . The indicators are strongly reminiscent of the Situation of the Bitcoin exchange rate, from 12. June, what contributes to this negative assessment.

Support and Resistance

Apart from the EMA50 is the first Support for 394,73 Euro and by the middle of April, traversed the Plateau and the recently reached Minimum described. A further Support is defined by the Plateau from the beginning of April in 321,00 Euro. This also coincides with the Support of the daily chart plotted Triangle Patterns.

As the first Resistance, the Plateau of 10. to 12. June at a value of 455,00 Euro. This Resistance is also at the height of the month minimum of may and on the current height from the EMA50. Breaks through the course of this level, the course level from the 5. to 9. June in the amount of 514,90 Euro, a further Resistance.

Entry points, Stop Losses and Targets

The current market situation, recommends a Short Position. Stop Loss would be at the height of the first Resistance in the case of 455,00 Euro and Targets on the height of the two Supports.

The price should bounce off at one of the Support and the first Resistance in the case of 455,00 Euro to rise, you might think soon is a Long Position. As the Entry Point of the EMA100 of 481,27 Euro is recommended as a Stop Loss the first Support or the EMA50 could be used. The first Target would be at the height of the first Resistance.

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 11:36 PM on the 14. June created. For a deeper understanding of the concepts of a course analysis is on the Link referenced.

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