Ethereum: USD/ETH (ETH=) within range of the first major resistance level at $185.64
Ethereum rallied by 5.92% on Monday. Reversing a 3.7% slide from Sunday, Ethereum ended the day at $180.26.
A bearish start to the day saw Ethereum fall to an early morning intraday low $168.61 before making a move.
Steering clear of the first major support level at $166.08, Ethereum rallied to a late afternoon intraday high $182.50.
Ethereum broke through the first major resistance level at $175.70 and the second major resistance level at $181.22.
A late pullback to $180 levels saw Ethereum fall back through the second major resistance level. Holding onto $180 levels at the day end was key, however.
The extended bearish trend, formed at late April 2018’s swing hi $828.97, remained firmly intact. A reversal from June’s current year high $364.49 back through the 23.6% FIB of $257 reaffirmed the extended bearish trend.
At the time of writing, Ethereum was up by 1.46% to $182.89. A bullish start to the day saw Ethereum rally from an early morning low $180.01 to a high $185.30.
Ethereum came within range of the first major resistance level at $185.64 before the pullback.
Overall, the bias in prices is: Downwards.
By the way, prices are vulnerable to a correction towards 194.78.
The projected upper bound is: 207.16.
The projected lower bound is: 158.57.
The projected closing price is: 182.86.
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 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 67.4575. This is not an overbought or oversold reading. The last signal was a sell 16 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 50.93. 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 151.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 10 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 1 period(s) ago.
Rex Takasugi – TD Profile
FOREX ETH= closed up 3.240 at 183.170. Volume was 62% below average (consolidating) and Bollinger Bands were 12% wider than normal.
Open High Low Close Volume___
179.070 185.690 176.820 183.170 26,404
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 175.99 183.28 209.57
Volatility: 55 84 89
Volume: 77,959 73,756 65,778
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 12.6% 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 11 periods.