The Ethereum “walking on very thin blade” — the price of the asset balances on the psychologically important level of support. At the moment the chart on cryptocurrency while there is no explicit signal to growth, first she must overcome the resistance zone in the area 210 and 214 dollars. Unfortunately, the growth Aldona may not happen soon — hardwork Constantinople was postponed for 2019.
The General situation looks like this:
- in the past few days the price of Ethereum quickly fell below $ 200, but the bulls were able to defend their positions at around $ 196;
- on 4-hour chart has formed an uptrend;
- crypto currency needs to consolidate above the 100 SMA on 4-hour chart, in order to continue growing.
At the moment Ethereum is trading at $ 205. For the past day coin rose 0.7 percent.
This week the price of the asset slowly down zone $ 215 to the main support. At one point, the bears managed to go below $ 200 and 100 SMA on 4-hour chart. This was followed by a short correction up, and now Aldon stuck just above two hundred.
During rollback the Ethereum broke the 23.6 level of Fibonacci and the beginning of the last wave discharge. However, in the area of $ 210 is still a strong resistance zone, reinforced moving average SMA 100. Up to this point the asset has tried to test the level 208 of dollars, but failed to grow above. In the short term, traders should focus on the 100 SMA. After breaking this line, you can open a small long.
Technical indicators do not give a full picture of the situation. 4-hour MACD is a bit “out” in the bullish zone, but the RSI is still at the average level, indicating the absence of a clear trend.
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