Ethereum: USD/ETH (ETH=) Consolidates Below the 50-Day MA
Ethereum ETH trades higher midday adding 1.16% at $183.28 keeping the short term neutral momentum which started three sessions ago. Ethereum stalled at the 50-day moving average since the rebound from the September 26th low at $153. Bears are still in control of the number two cryptocurrency after Ethereum breached the 50-day moving average. ETHUSD has gained 20% since the $153 lows.
Ethereum Technical Analysis
On the downside, first support for Ethereum stands at 180.67 daily low, below this level next support stands at $169.00 the low from October 7th, while more bids might await at the lows seen on September 26th at $153.
On the upside, immediate resistance for Ethereum now stands at 184.27 today’s high, while more selling pressure will be met at $202.18 at the 100-day moving average. A convincing close above that level will open the way for a visit to the 200-day moving average at $211.78.
Ethereum market capitalisation today stands at 19.88 billion with the trading volume today reaching 7.09 billion. Bitcoin also trades higher today at 8,283 with a market cap at 149.75 billion and Litecoin – LTC trades at 56.70 with a market cap at 3.61 billion. The 100 biggest cryptocurrencies market capitalization now stands at 225.43 billion.
Overall, the bias in prices is: Downwards.
The projected upper bound is: 209.68.
The projected lower bound is: 160.05.
The projected closing price is: 184.86.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 24 white candles and 26 black candles for a net of 2 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 39.7057. This is not an overbought or oversold reading. The last signal was a sell 4 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 51.33. 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 25 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 65. This is not a topping or bottoming area. The last signal was a sell 3 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 8 period(s) ago.
Rex Takasugi – TD Profile
FOREX ETH= closed down -2.510 at 184.900. Volume was 77% below average (consolidating) and Bollinger Bands were 52% narrower than normal.
Open High Low Close Volume___
186.860 188.890 181.050 184.900 15,719
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 182.99 182.65 211.23
Volatility: 70 86 89
Volume: 60,349 73,103 66,603
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 12.5% 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 18 periods.
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