ETHUSD - 1D Chart Analysis

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On the 14th of November, the Ethereum's price has started to decrease aggressively based on the massive sell-offs and it has also crossed the 20 days Moving Average, which from the technical perspective represented the beginning of a bearish trend.

It's important to notice that this trend change has been clearly signaled by 2 technical indicators :

* The "fast" line of the Stochastic has bounced back from the level of 55, showing a change of the price direction;
* The MACD went below the Signal, confirming the trend which was about to start.

Another important day was the 18th of December when the price has crossed back the 20 days Moving Average and the bullish trend has started. Like on the previous time, this crossover was signaled in advance by the same 2 technical indicators.

Today, Ethereum is traded around the Pivot Level which represents the average price for this interval.

But from the technical perspective, there are 4 reasons to consider a possible retrace of the price, as it follows :

* The Stochastic has registered a "Crossover" on the 6th of January and the price has started to decrease slowly since then;
* The MACD is about to go below the Signal, showing the possibility of another bearish trend to begin;
* The trading volumes are decreasing;
* Based on the principle according to which any aggressive "impulse" of the price is followed by a "correction" of around 45%, we can expect Ethereum to drop with another 32$.

If this scenario will get caught off, we can consider a target price of around 120$ for the following days.
交易结束:到达目标
the trade has been closed
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