ETHEREUM: Current forecast and price targets
After several days of steady upward movement, the crypto currency Ethereum then went significantly downhill yesterday. Previously, the coin had grown 41.8 percent, rising to $ 2,410. With a break in the upward trend line, there was a drop of just under 15 percent to USD 2,050.
Analysis and location determination - viewing in the H4 chart
After the previous downward movement, there was an initial stabilization within the support. Provided that the support level (2,060 / 2,017 USD) is not significantly undercut (excluding pure puncture), a corresponding reaction impulse on the long side can be expected from the statistical point of view.
The reaction potentials are:
With a minimum correction to USD 2,186, the probability of a new movement low is about 67 percent. With a normal correction of up to USD 2,230, the probability of occurrence is only around 50 percent. An increase to $ 2,287 would be a maximum correction. Here the probability of a new low level of movement is only around 37 percent. This makes it very easy to calculate when a corresponding short setup still makes sense.
Focus on support
Should the current attempt to stabilize, however, fail immediately, a trend continuation and decline to the area of 1,750 USD can be expected after a break of 2.018 USD. The previously positive picture would therefore continue to deteriorate. Another and perhaps successful attack on the multiple traded low of around USD 1,700 could even trigger a real panic sale. Course targets for this would then have to be determined anew.
Always good trades!
Global Investa
Note:
Despite careful analysis, Global Investa does not accept any liability for the content, topicality, correctness or completeness of the information provided. The information provided does not constitute investment advice, purchase recommendations or investment brokerage.
Analysis and location determination - viewing in the H4 chart
After the previous downward movement, there was an initial stabilization within the support. Provided that the support level (2,060 / 2,017 USD) is not significantly undercut (excluding pure puncture), a corresponding reaction impulse on the long side can be expected from the statistical point of view.
The reaction potentials are:
With a minimum correction to USD 2,186, the probability of a new movement low is about 67 percent. With a normal correction of up to USD 2,230, the probability of occurrence is only around 50 percent. An increase to $ 2,287 would be a maximum correction. Here the probability of a new low level of movement is only around 37 percent. This makes it very easy to calculate when a corresponding short setup still makes sense.
Focus on support
Should the current attempt to stabilize, however, fail immediately, a trend continuation and decline to the area of 1,750 USD can be expected after a break of 2.018 USD. The previously positive picture would therefore continue to deteriorate. Another and perhaps successful attack on the multiple traded low of around USD 1,700 could even trigger a real panic sale. Course targets for this would then have to be determined anew.
Always good trades!
Global Investa
Note:
Despite careful analysis, Global Investa does not accept any liability for the content, topicality, correctness or completeness of the information provided. The information provided does not constitute investment advice, purchase recommendations or investment brokerage.
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