Ethereum: USD/ETH (ETH=) Falls 10% In Rout
Ethereum was trading at $221.02 by 10:47 (14:47 GMT) on the Investing.com Index on Sunday, down 10.06% on the day. It was the largest one-day percentage loss since September 24, 2019.
The move downwards pushed Ethereum’s market cap down to $24.65B, or 0.00% of the total cryptocurrency market cap. At its highest, Ethereum’s market cap was $135.58B.
Ethereum had traded in a range of $220.98 to $237.30 in the previous twenty-four hours.
Over the past seven days, Ethereum has seen a stagnation in value, as it only moved 1.93%. The volume of Ethereum traded in the twenty-four hours to time of writing was $19.93B or 0.00% of the total volume of all cryptocurrencies. It has traded in a range of $216.2330 to $251.5475 in the past 7 days.
At its current price, Ethereum is still down 84.47% from its all-time high of $1,423.20 set on January 13, 2018.
Overall, the bias in prices is: Downwards.
The projected upper bound is: 244.95.
The projected lower bound is: 176.11.
The projected closing price is: 210.53.
A big black candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are “high,” it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
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 25 white candles and 25 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 47.9176. This is not an overbought or oversold reading. The last signal was a buy 9 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 41.74. 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 sell 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 -92. This is not a topping or bottoming area. The last signal was a buy 6 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 sell 17 period(s) ago.
Rex Takasugi – TD Profile
FOREX ETH= closed down -28.470 at 209.860. Volume was 44% above average (neutral) and Bollinger Bands were 45% wider than normal.
Open High Low Close Volume___
238.400 241.310 203.000 209.860 247,739
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 226.59 218.53 179.53
Volatility: 102 93 77
Volume: 311,466 250,256 112,676
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 16.9% above its 200-period moving average and is in an downward trend. Volatility is high as compared to the average volatility over the last 10 periods. 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 8 periods.