The Technical Outlook for Ethereum
Early this moth ETH/USD showed relative strength among the major cryptos.
Although last week’s pullback saw Ethereum move below support at 700, it has risen back above it and price did not break below the invalidation mark at 627, tilting to Bearish.
Currently, Ethereum is trading at: 686.605, -47.715, or -6.50%, as of 5:35a BST, the market is open
When Ethereum moved above its 200-Day MA. So, the Bullish bias revives.
Support turned resistance is at 800 – 835 brings on profit-taking. The Bulls are looking for it to clear Key resistance at 800-835 for Bullish confirmation.
If this occurs the target is the 61.8% Fibo retracement mark at 1016/7, or if Ethereum falls below 700 support (which it has today) and holds then see a move due South to 535 or lower.
Join the Channel Now, Click Here
Transparent Exchanges are the Future of Bitcoin
There is no doubt some CryptoCurrencies with fail, some will be scams, and some will live on to change the very nature of money and wealth, no wonder the old dudes are scared.
CryptoCurrencies is not about Tax Evasion or Money Laundering, real hardcore fundamental CryptoCurrency Exchanges like G-BiT have seriously tackled the Money Laundering and Tax issues, that’s why they have such a bright future. While the Establishment still wants you to be hit with heavy fees and delays sending money around the world the reality is that is legalized theft built in to the Banking Sector and is not a product of cost or reality, CryptoCurrencies have proven that!
Latest posts by Paul Ebeling (see all)
- 24 Hours of LeMans, 12 Hours Report - June 15, 2019
- Ferrari’s (NYSE:RACE) 488 Pista Spider The Benchmark Opentop Supercar - June 15, 2019
- Trade Worries Not a Drag on US Business Investment - June 15, 2019