2019-3-10 18:38 |
Long-Term Outlook Ethereum (ETH) Weekly Logarithmic Chart
A look at the Weekly logarithmic chart for Ethereum shows that the price is trading below the 50 and 21-period MAs while struggling to break out above the 21-period moving average, which is giving very close resistance to the price.
It is also trading below the negative Ichimoku Cloud. The closest support area is near $85 while the closest resistance area is near $170.
The RSI is at 40, indicating neither overbought nor oversold conditions.
On a more positive note, the MACD has made a bullish cross and is moving upward with strength but is not positive yet.
Medium-Term Outlook Ethereum (ETH) 3-Day ChartA look at the 3-day chart shows that the price has been following an ascending support line for the past 83 days.
Furthermore, it is facing very close resistance from the 50-period moving average and the Edge of the Ichimoku cloud.
While initially, it seemed like the 21-period MA is getting ready to make a bullish cross, it reversed and is currently falling.
On a more positive note, the MACD is moving upward but is not positive yet.
Ethereum (ETH) Daily ChartA look at the Daily chart shows that the price tried unsuccessfully to break out of the 200-period moving average.
However, it has broken out of the Ichimoku Cloud resistance.
Short-Term Outlook and Price Prediction Ethereum (ETH) 6-Hour ChartA look at the 6-hour chart shows that the price dropped sharply once reaching $167, and since then it has been moving in a horizontal channel between $125 and $145.
This movement has been going on since February 25. The MACD has made a bearish cross and is moving downward, but is not negative yet.
Also, there is a minor support area near $125. There is a minor resistance area near $155.
Price Prediction: I believe that during the next week the price will head for the minor resistance near $155.
Conclusions There is resistance near $175. There is support near $85. The price has been following an ascending support line for 83 days. The price has broken out of the Daily Ichimoku Cloud.Ethereum Price Prediction: When Will ETH Break Past the Resistance? was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.
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