Categories: Ethereum

Ethereum struggling to keep the momentum going

Click here to view original web page at
  • ETH/USD finds support ahead of 200.00 at the internal trendline
  • Bulls target a break of 230.50 and may take the pair back to the highs
  • The current consolidation range is between 190.10 and 230.50 on the 4-hour chart

Ethereum has pushed higher on Sunday to fend off the 200.00 level after producing a doji candle on Saturday. The doji candle has stopped right on the retest of the internal trendline just above the 200.00 area and yesterday the price significantly pushed to reach a high of 216.79.

Today, it has not been as straightforward with the price pulling back somewhat. Now, however, there is a battle between the 190.10 and 230.50 levels. A break of the 230.50 level to the upside would be a massive sign that we could to head back to the highs. The uptrend is technically still intact until the 190.10 wave low is taken out.

Looking at the indicators the stochastic looks like it may push higher as the K (Red/fast), and D (Blue/slow) line converge, and the MACD histogram is still holding above the mid-line, but the moving averages are still below and would need to break higher for the trend to continue.

The stochastic indicator is a momentum oscillator that is based on moving averages for 3 and 5 days. The extreme levels are seen as overbought and oversold, but it is dangerous to see them that way as they can stay low and high for some period of time, often giving false signals. The crossover of the two moving averages can also give signals, but I would always look for other arguments to support your views as trading with it alone could lead to losses.

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.

Cryptos feed

Bulls target a break of 230.50 and may take the pair back to the highs

The current […]


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...
Published by

Recent Posts

Luongo: Trump’s Not A 4-D Chess-Player, He’s A Very Simple Creature

Authored by Tom Luongo, Friday night used to be the ‘best night on television.’ But today Friday afternoon is becoming… Read More

5 hours ago

Overstock Still Focusing on Crypto Despite Embattled CEO’s Departure

Overstock was one of the first major companies that expressed extreme interest in utilizing and adopting crypto – an interest… Read More

5 hours ago

Symmetrical Triangle Pattern May Bolster Bitcoin Bulls

Over the past couple of days Bitcoin has found itself caught within a relatively tight trading range and has continued… Read More

5 hours ago

Overstock’s Patrick Byrne: the rise and fall of a blockchain pioneer

Patrick Byrne this week resigned as CEO of US online retailer Overstock. The move closely followed the announcement of disappointing… Read More

5 hours ago

Ethereum & Stellar’s Lumen Tech Analysis –26/08/19

It’s a bullish start to the day for the majors. Holding above key levels would support another breakout later in… Read More

5 hours ago

New tool for OTC trade is based on Ethereum smart contracts

Source: Wikimedia The decentralized platform AirSwap, a trade network driven by the Ethereum platform, launched a tool, called AirSwap Trader,… Read More

5 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