Today we will talk about the ETHUSD. 2-nd by the capitalization of the crypto currency after bitcoin. His position is much stronger than the market, and looks stronger than bitcoin. But there are a few factors that can warn us about a down trend. We consider the daily chart as it more clearly shows the picture. 1) The bottom of the support channel was pierced. 2) Indicators indicators are in the down trend (MACD, RSI, Stochastic). 3)The beginning of the down trend formation (the last hight was lower than the previous one)
ETHUSD is well purchased from the level of 800 dollars, this is the zone of the moving average 100 (MA100) at the moment it is support, after its failure we will see the price of the more wholesale value (MA200) of 500 dollars (next support). In this situation it is important to look at bitcoin sales. ETHUSD look stronger, but there is still dependence on bitcoin.
In the alternative development of events, we will see a breakdown of $ 1100 and fixation above, sales will be absorbed and we will be able to go to the top. In the meantime, we have a full-fledged distribution on the market as a whole. Also, for a full understanding of the picture, one can see the week at the ETHUSD
ETHUSD
and pay attention to the indicators ...
ETHUSD is well purchased from the level of 800 dollars, this is the zone of the moving average 100 (MA100) at the moment it is support, after its failure we will see the price of the more wholesale value (MA200) of 500 dollars (next support). In this situation it is important to look at bitcoin sales. ETHUSD look stronger, but there is still dependence on bitcoin.
In the alternative development of events, we will see a breakdown of $ 1100 and fixation above, sales will be absorbed and we will be able to go to the top. In the meantime, we have a full-fledged distribution on the market as a whole. Also, for a full understanding of the picture, one can see the week at the ETHUSD
ETHUSD
and pay attention to the indicators ...