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Monday, April 19, 2021

Ethereum: USD/ETH (ETH=) continues the flat movement, Uncertain of uptrend move

Ethereum: USD/ETH (ETH=) continues the flat movement, Uncertain of uptrend move

The ETH/USD pair is fluctuating between the levels of $136 and $157. This is a sequel to the breaking out of the larger price range of $160 and $200. The coin is trading in the smaller price range. The bulls have made attempt to revisit the larger price range but were resisted at $157 price level. The coin fell to a low of $148. The bull’s second upward move was resisted at $152. Ethereum is currently falling as a result of that resistance.

The coin reached a low of $140 and pulled back. Ethereum is approaching the high of $145 at the time of writing. On the upside, if the bulls break the resistance at $157, the coin will rally into the larger price level. On the downside, if the selling pressure continues and the low of $136 is broken, the coin will depreciation. Meanwhile, the RSI period 14 level 37 indicates that the coin is  approaching the range-bound zone.

In the ETH/BTC pair, the coin is fluctuating in a price range of Ƀ0.016000 and Ƀ0.022000. The bulls seem to have the upper hand as they continue to push the price above the resistance at Ƀ0.022000. The inability of the bulls have compelled the coin to a range-bound movement. A break above the resistance will enable ETH to reach a high of Ƀ0.030000. Meanwhile, the pair is trading above the 25% range of the daily stochastic. This indicates that the coin is in bullish momentum.

Technical Indicators

Overall, the bias in prices is: Downwards.

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

The projected upper bound is: 159.30.

The projected lower bound is: 129.04.

The projected closing price is: 144.17.


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 23 white candles and 27 black candles for a net of 4 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 36.9524. This is not an overbought or oversold reading. The last signal was a buy 8 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 35.86. 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 8 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 -100.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 17 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 11 period(s) ago.

Rex Takasugi – TD Profile

FOREX ETH= closed down -0.950 at 144.500. Volume was 87% below average (consolidating) and Bollinger Bands were 72% narrower than normal.

Open     High      Low     Close     Volume___
145.450 145.790 143.850 144.500 8,194
Technical Outlook 
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period     50-period     200-period
Close: 146.65 167.95 206.27
Volatility: 32 57 75
Volume: 60,261 55,569 65,455

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 29.9% 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 23 periods.

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