2018-12-4 12:40 |
CoinSpeaker
Ethereum Price Analysis: ETH/USD Trends of December 4–10
Supply levels: $145, $182, $224
Demand levels: $102, $90, $75On the long-term outlook, Ethereum is bearish. It was in a bearish trend last week and it found its low at the demand level of $102. An indecision Japanese candle formed (doji candle) which made the bulls to push the price with the expectation of retesting the broken level but the bears interrupted and then consolidation started.
The coin is trading below 20-day EMA and the 50-day EMA which indicates that the coin is still in bearish trend. The Stochastic Oscillator period 14 has dipped into an oversold region (below 20 levels) which connotes that the bulls may soon take over the market.
Ethereum may find its low at the $90 demand level in case the bears were able to break the demand level of $102 downside. In case the bulls take over the market and the demand level of $102 is defended, then ETH price will have a supply level of $145 as its first barrier.
ETH/USD Medium-term Trend: BearishETH/USD is in its bearish trend on the 4-Hour chart. On November 1, the coin broke up the dynamic resistance level 21-day EMA but resisted by the 50-day EMA and ETH price was returned to its previous low.
Currently, ETH is below the two EMAs retesting the broken level. In addition, the Stochastic Oscillator period 14 is at the oversold region with the signal lines pointing to the north which indicates buy signal which may be a pullback before continuing bearish trend.
Ethereum Price Analysis: ETH/USD Trends of December 4–10
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