The last days attracts Ethereum significantly and now stands directly at the crossroads. An analysis in the daily chart.
With the downward movement in the past week, the significant High of the 03. April tested. Ethereum could make use of this support. With the current upward movement, the downward trend is tested, at 20. June has formed.
Ethereum can take advantage of the wide support area (418 – 471 USD), and the downward trend is broken. This represents a buy signal. A short-term goal of the upward movement is 550 US Dollar. A sustainable kind of liberation can succeed on the big time level with courses, 684 US dollars. Then, the following targets are available:
- 897 US dollars
- 1.021 dollars
The current Overshoot on the downward trend turns out to be a “false breakout”. Ethereum will continue to remain in a sideways movement and breaks through the bottom. Under 405 U.S. Dollar, a further sale will be activated to generate a signal and the following course objectives:
- 365 US $
- 338 US dollars
Ethereum now has to show strength. The prerequisites for this are due to the massive support area. The Situation in the light of various indicators, but warns of caution. As before, to work with conditions and thereby his own Setup in the appropriate unit of time to work out.
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 Bitfinex on 03. July created. For a deeper understanding of the concepts of rate analysis, please refer to this Link.