ETH/USD daily price has gone up from $308 to $311 in the early hours of Wednesday, following a bearish Tuesday, wherein the price went down from $313.50 to $308. Looking at the hourly breakdown, we can see that ETH/USD had a bullish spike, which shot the price up from $308 to $312.22, within one hour, where it met resistance. After overcoming the resistance, the price went up further to $313.85, where it met another healthy resistance level before it fell to $311.
The ETH/USD daily chart has formed a triangle formation, and the three latest prices are consolidating in a flag pattern. The market is trending above the 200-day simple moving average (SMA 200), SMA 50 and SMA 20 curves. The 20-day Bollinger jaw is narrowing, which indicates lower market volatility.
The moving average convergence/divergence (MACD) indicator shows that the MACD line was about to be crossed over with the signal line before it diverged and both the lines are trending parallelly, very close to one another. This shows that the bearish market momentum has decreased. The Elliot oscillator has had four bullish sessions in a row with increasing intensity.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.
ETH/USD market momentum has decreasing bearish intensity.
ETH/USD daily price has gone up […]
Authored by Caitlin Johnstone via Medium.com, I didn’t watch the last Democratic presidential primary debates because I figured that without… Read More
Data from blockchain.com shows Bitcoin’s hash rate is at all-time-high. Last week, it peaked at 98.5 quintillion hashes per second.… Read More
Bitcoin appeared stuck in a price-range on Monday as attacks on Saudi Arabia’s oil facilities raised concerns over global energy… Read More
A $10 billion wealth advisor predicts the next Fed rate cut will launch the bitcoin price to a new yearly… Read More
ZUG, SWITZERLAND / ACCESSWIRE / September 16, 2019 / Velas AG, the developer of the AI-powered DPoS blockchain of the… Read More