Ethereum: USD/ETH (ETH=) Price Climb Slows as it Stabilizes Around $180

Ethereum: USD/ETH (ETH=) Price Climb Slows as it Stabilizes Around $180

Ethereum: USD/ETH (ETH=) Price Climb Slows as it Stabilizes Around $180

At the time of writing, Ethereum is trading up marginally at its current price of $179.50, and it is currently sitting slightly below its daily highs of $184 that were set at the peak of the market’s upwards surge that occurred yesterday.

It is important to note that Ethereum is closely tracking Bitcoin’s price action, and it is highly probable that it will remain closely correlated with BTC in the near-term while the markets struggle to determine which direction they will trend for the foreseeable future.

Technical Indicators

Overall, the bias in prices is: Downwards.

By the way, prices are vulnerable to a correction towards 194.64.

The projected upper bound is: 205.10.

The projected lower bound is: 156.53.

The projected closing price is: 180.82.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 5 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 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 73.0998. This is not an overbought or oversold reading. The last signal was a sell 17 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 49.73. 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 19 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 107.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 11 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 2 period(s) ago.

Rex Takasugi – TD Profile

FOREX ETH= closed up 2.810 at 181.130. Volume was 75% below average (consolidating) and Bollinger Bands were 1% narrower than normal.

Open     High      Low     Close     Volume___
178.320 182.700 175.460 181.130 17,179
Technical Outlook 
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period     50-period     200-period
Close: 176.76 182.88 209.76
Volatility: 50 84 89
Volume: 75,693 73,922 65,935

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 13.7% below 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 12 periods.

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