Ethereum: USD/ETH (ETH=) Edges Below Key 150 Level

Ethereum: USD/ETH (ETH=) Edges Below Key 150 Level

ETH/USD pair continues to fluctuate below the horizontal channel which includes the $160 to $200 price range. Later, the coin plunges and fluctuates in a small price range of $136 to $157. For the past five days, the price movement has been relatively slow. The daily price movement has been insignificant. Regrettably, it will take days of fluctuation before we have a low of $136 or the high of $157 broken.

Meanwhile, the market is fluctuating in a tight range between the low of $140 and $145 because of low volatility. Presently, the market has reached a low of $143, if the falls below $136, the downtrend will resume. However, if the support level holds, the coin will continue its range-bound movement. Nevertheless, Ethereum is trading below a 40% range of the daily stochastic. This implies that the coin is in a bearish momentum.

In the ETH/BTC pair, the price movement has remained the same in the last 48 hours. The coin is fluctuating between the levels of Ƀ0.016000 and Ƀ0.022000. In the price fluctuation, the bears seem to have an upper hand. The market is trading below the EMAs, this portends a negative signal.

Technical Indicators

Overall, the bias in prices is: Downwards.

Note: this chart shows extraordinary price action to the downside.

By the way, prices are vulnerable to a correction towards 166.37.

The projected upper bound is: 152.09.

The projected lower bound is: 128.15.

The projected closing price is: 140.12.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 21 white candles and 29 black candles for a net of 8 black candles.

Momentum Indicators

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.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 37.8379. This is not an overbought or oversold reading. The last signal was a buy 11 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 33.95. 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 11 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 -119.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 20 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 14 period(s) ago.

Rex Takasugi – TD Profile

FOREX ETH= closed down -2.410 at 141.030. Volume was 57% below average (consolidating) and Bollinger Bands were 66% narrower than normal.

Open     High      Low     Close     Volume___
142.400 143.590 140.550 141.030 26,556
Technical Outlook 
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period     50-period     200-period
Close: 145.04 165.47 204.35
Volatility: 30 45 75
Volume: 54,228 55,701 65,259

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.

Summary

FOREX ETH= is currently 31.0% below its 200-period moving average and is in an downward 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 bearish on ETH= and have had this outlook for the last 26 periods. The security price has set a new 14-period low while our momentum oscillator has not. This is a bullish divergence.

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