Ethereum: USD/ETH (ETH=) Dips Below 6,712.5 Level, Down 0.97%
Bitcoin fell bellow the $6,712.5 level on Sunday. Bitcoin was trading at 6,712.5 by 13:30 (17:30 GMT) on the Investing.com Index, down 0.97% on the day. It was the largest one-day percentage loss since April 5.
The move downwards pushed Bitcoin’s market cap down to $123.0B, or 0.00% of the total cryptocurrency market cap. At its highest, Bitcoin’s market cap was $241.2B.
Bitcoin had traded in a range of $6,686.0 to $6,889.4 in the previous twenty-four hours.
Over the past seven days, Bitcoin has seen a rise in value, as it gained 10.53%. The volume of Bitcoin traded in the twenty-four hours to time of writing was $30.5B or 0.00% of the total volume of all cryptocurrencies. It has traded in a range of $5,872.5044 to $7,182.7227 in the past 7 days.
At its current price, Bitcoin is still down 66.22% from its all-time high of $19,870.62 set on December 17, 2017.
Overall, the bias in prices is: Downwards.
Note: this chart shows extraordinary price action to the downside.
The projected upper bound is: 188.95.
The projected lower bound is: 105.47.
The projected closing price is: 147.21.
A big white candle occurred. This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are “low,” it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area (e.g., a moving average, trendline, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 23 white candles and 27 black candles for a net of 4 black candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 74.6927. This is not an overbought or oversold reading. The last signal was a buy 23 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 50.43. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 18 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 140.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 9 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 15 period(s) ago.
Rex Takasugi – TD Profile
FOREX ETH= closed up 6.700 at 149.260. Volume was 57% below average (consolidating) and Bollinger Bands were 65% narrower than normal.
Open High Low Close Volume___
143.070 149.950 141.790 149.260 141,959
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 137.35 182.37 173.02
Volatility: 73 160 104
Volume: 812,048 466,085 182,856
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
FOREX ETH= is currently 13.7% below its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect volume flowing into and out of ETH= at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on ETH= and have had this outlook for the last 2 periods.