Categories: Ethereum

Ethereum Price Analysis: ETH/USD is Awaiting Break Out at $134 Price Level

Click here to view original web page at www.coinspeaker.com
Photo: QuoteInspector

Key Highlights:

  • The Bears and the Bulls momentum are at equilibrium;
  • the break out of Ethereum is imminent;
  • consolidation continues at the $134 demand level.

ETH/USD Medium-term Trend: Ranging

Supply Zones: $134, $149, $161
Demand Zones: $125, $113, $101

On the 4-Hour chart, ETH/USD is ranging. The bearish momentum that placed the coin below the two dynamic support levels (21 periods and 50 period EMA) is weakened. Therefore, it is difficult for Ethereum price to penetrate the demand zone of $134. Likewise, the Bulls have lost the pressure and it is hard for them to push up the price.

Then, ETH/USD is consolidating at $134 price level. That means the buyers and the sellers momentum are at equilibrium. Radical fundamental events may be needed to make the coin rally.

The cryptocurrency is consolidating below the 21 periods EMA and 50 periods EMA and the two EMAs are close to each other. The Stochastic Oscillator period 14 is above 20 levels horizontally flat at the level showing no direction confirm the consolidation that is ongoing in the ETH market.

Radical pressure is required from the bears to break down the significant demand level of $134 and this will enable Ethereum price to find support at $125 price level. Alternatively, In case the $134 demand level holds and the bulls gain enough momentum, the coin may have the supply zone of $149 as its target.

ETH/USD Short-term Trend: Bearish

On the medium-term outlook, ETH price is bearish. The ETH price remains under the bearish pressure as it is clearly seen on the 1- Hour chart that the coin has been trading under the 21 periods EMA and 50 periods EMA for more than five days which is one of the evidence of the bearish trend.

The 21 periods EMA crossed down the 30 period EMA when the bearish candle penetrated the two EMAs downside on March 8. All attempts made by the bulls to push up Ethereum price failed due to an increase in bears’ momentum. The Stochastic Oscillator period 14 is at 40 levels pointing down which connotes sell signal.

The Bears and the Bulls momentum are at equilibrium;

the break out of Ethereum is imminent; consolidation continues at the $134 demand level. ETH/USD Medium-term […]

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama

Recent Posts

Bitcoin {BTC} founder Satoshi Nakamoto will allegedly disclose his identity; Charlie Lee rejoices with regards to Bakkt launch

Satoshi Nakamoto was the man behind Bitcoin. His personal identity has remained secret for over a decade. Some believe that… Read More

2 hours ago

Crypto Community Reacts to Bakkt But Not all Are Bullish

The news that regulatory approval has finally been granted to Bakkt has generally been perceived as bullish for the industry.… Read More

2 hours ago

Bitcoin is not behaving like a safe-haven asset, says Ikigai founder Travis Kling

Kling doubts whether Bitcoin is ready to assume safe-haven responsibilities like its peers such as gold. Kling did note Bitcoin’s… Read More

2 hours ago

Istanbul Hard Fork: Ethereum Devs Agree to Make Six Different Code Changes

The developers of Ethereum (ETH), the world’s largest platform for building decentralized applications (dApps), have finalized six different codebase modifications… Read More

2 hours ago

Blockchain Voting System in Moscow Municipal Elections Vulnerable to Hacking: Research Report

A recent research report by a French cryptographer demonstrates that a blockchain voting framework utilized in Moscow’s municipal elections is… Read More

2 hours ago

What Would It Take To Build A World Without Globalists?

Authored by Brandon Smith via Alt-Market.com, You can bet that whenever you find people analyzing the root of a problem… Read More

8 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More