Ethereum & Next Areas to Watch For

2018年4月18日

There's been a lot of sideways action with Ethereum up in the present area. The EMA 50 & EMA 200 have gone from being very far apart only a week ago and are now coming closer together and are becoming more likely to cross or come very close to doing so. Ethereum remains somewhat over the EMA 200, although a return below it will likely mean a return into the downwards trend.

Areas to watch for right now include a clear breach of the $535 indicator line (dashed light pink), which would denote a potential move up. However, I am inclined to believe that we are still in a downtrend as we have only made at this point a lower high. A clear breach below the significant support around $485 (dashed fuchsia) would indicate a return below it.

The Ethereun price range of $370-390 (solid fuchsia) has proven to be substantial support. A clear break below $370 and into $350 (dotted red) will become reality should the downtrend continue. My long-term outlook on Ethereum still remains around the $230-290 range as a potential bottom. In the meantime, should the price drop below $350, then a lower range of $315-325 may cause a rebound with more interim upside until the downtrend potentially resumes or it will continue up should an uptrend begin.

As always, zoom in/out and scroll left/right or up/down, move the scales to view the chart closer or in different areas. Keep an eye on the price lines between the major noted support and resistance lines (denoted by thicker horizontal lines), as they give a good indication of where a potential rebound is likely to occur.