Yesterday, the daily volume of trade Ethereum has reached a maximum value in the last 12 months. In 24 hours the total amount of traders ‘ transactions amounted to 850 000 ETH is the last time that happened on 15 September 2017. The situation with trading Ethereum analyzed in Coindesk.
Investors are buying Ethereum
The sharp increase in volumes — a sign that market players bought the recent drop in the cryptocurrency below $ 200. Technical indicators almost on all time frames point to a significant weakening of the bearish trend.
Rebound Ethereum has formed a good candlestick pattern to start bullrun. Candle hammer coincided with a bullish divergence on the RSI indicator, which means the bulls are gradually taking the situation under control.
The main resistance is now serving a 10-day moving average line. If it will stop the growth of prices, not excluded new fall in the area of annual minimum.
The overall picture on the weekly chart looks quite positive. Trading volume this week compared with the December record, when the stock market approached the peak of the previous bull trend.
At the moment it is possible to expect growth of the asset to $ 250. If Ethereum still fall below $ 200, you can start a new wave plum.
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