ETHUSD - 1D Chart Analysis
Updated
Based on the market capitalization which has started to recover from the ground which was lost, the Ethereum also followed the rest of the coins and it's price has increased with 64.21% since the 14th of December (from 82.99$ to 136.28$).
The bullish trend has "officially" started on the 18th of December, as soon as the price has crossed the 20 days Moving Average at the value of 109.49$ and in the meantime the price has also reached the upper standard deviation of the Bollinger Bands, meaning that the price got close to the "overbought" area.
Looking to the other technical indicators we can see that the RSI is only 61, the Stochastics are above the level of 80 but there is no crossover yet and also the MACD is still above the Signal, meaning that there is still more room for the price to increase.
In these circumstances, as long as the trading volumes will remain the same, the next level which can be considered a cautious target price for the following 1-2 days is the Resistance Level 2 at 146.19$.
The bullish trend has "officially" started on the 18th of December, as soon as the price has crossed the 20 days Moving Average at the value of 109.49$ and in the meantime the price has also reached the upper standard deviation of the Bollinger Bands, meaning that the price got close to the "overbought" area.
Looking to the other technical indicators we can see that the RSI is only 61, the Stochastics are above the level of 80 but there is no crossover yet and also the MACD is still above the Signal, meaning that there is still more room for the price to increase.
In these circumstances, as long as the trading volumes will remain the same, the next level which can be considered a cautious target price for the following 1-2 days is the Resistance Level 2 at 146.19$.
Trade closed: target reached
the trade has been closed
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