ETH course analysis KW05 – new life after the crash?
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the currency crash of latter-day tore also Ethereum to a new annual low of 449,60 euros and thus tested minima of 22 December. Since then, the price recovered slightly and stands at 629,83 euros.
- Ethereum course fell slightly this week.
- Overall, the beginning of the month of February after bouncing on the resistance of the downturn with a strong downward movement was characterized, which led to a new low for the year of 449,60 euros.
- The most important support is 533,41 euro, the most important resistance at 669,06 euros.
As reported on Monday, the prices pretty much all Kryptowährungen have fallen dramatically. Yesterday was written about possible reasons, is that yesterday a very large crash shook the Kryptomarkt. Meanwhile the rates recovered to slightly, which means that the steep downward trend, determined the last week, will be tested in the case of the Ethereum. Until Ethereum has risen permanently out of the downtrend, although there’s a lot to overcome, but done is a start.
(second panel from the top) MACD is indeed negative, but the MACD line (blue), significantly higher than the signal (orange).
(third panel from the top) RSI is located at 48 and is thus neutral.
Overall, the situation is neutral to bullish . Currently forms a kind of “Showdown at the steep downward trend”, where it will be interesting how the course is developing further. A beginning of a recovery is at least visible.
The support is the 23.6-% FIB retracement level described and is 533,41 euros. Falling among these would further cement the existing downturn. A further support is described by the week minimum for 449,60 Euro. The existing backward channel should descend the course at this point, would be broken down and a third important support would describe late November to mid-December last year existing plateau at about 400 euro by the.
resistance 61.8% FIB retracement level is described by this and is 669,06 euros. An upgrade to this level would raise sustainable course over the steep downward trend. An upgrade over 804,72 euros would raise the price of the two exponential moving averages EMA50 and EMA100 and test the existing flat downward trend.
Disclaimer: The rate estimates shown on this site represent no buy or sell recommendations. You are only an estimate of the analysts.
image based on data from kraken.com to 11:00 on the 07th February 2018 created