Just like in the case of the other major coins, the price of Ethereum has also managed to position itself above the 20 days Moving Average on the 8th of February, being stimulated by the increased trading volumes after 1 month of losses.
It's important to notice that the indicators which have announced the 45% increase which was registered since then are the Stochastic and the MACD, with both registering a crossovers with one day in advance.
Today, even if the trend is still "bullish", there are few reasons according to which a possible "slow-down" of the price may happen anytime soon :
* The upper standard deviation of the Bollinger Bands has been reached, meaning that the price is considered "overbought";
* The RSI has the level of 70, showing the same as the Bollinger Bands does;
* Both Moving Averages of the Stochastic are above the level of 80 and on top of this, there is also a crossover which was registered today signaling a possible change in the price direction
* The MACD seems to keep it's position at the top of the Signal for now, meaning that the trend has big chances to remain the same.
Based on these circumstances, the main scenario remains the one in which the price will start it's sideways movement before having an attempt of reaching the level of 161$.
On the other hand, if the trading volumes will fail to keep the actual consistency and the MACD will cross the Signal again, it will be a clear indication that the price will drop, with a possible target of 123$.
It's important to notice that the indicators which have announced the 45% increase which was registered since then are the Stochastic and the MACD, with both registering a crossovers with one day in advance.
Today, even if the trend is still "bullish", there are few reasons according to which a possible "slow-down" of the price may happen anytime soon :
* The upper standard deviation of the Bollinger Bands has been reached, meaning that the price is considered "overbought";
* The RSI has the level of 70, showing the same as the Bollinger Bands does;
* Both Moving Averages of the Stochastic are above the level of 80 and on top of this, there is also a crossover which was registered today signaling a possible change in the price direction
* The MACD seems to keep it's position at the top of the Signal for now, meaning that the trend has big chances to remain the same.
Based on these circumstances, the main scenario remains the one in which the price will start it's sideways movement before having an attempt of reaching the level of 161$.
On the other hand, if the trading volumes will fail to keep the actual consistency and the MACD will cross the Signal again, it will be a clear indication that the price will drop, with a possible target of 123$.
評論:
Ethereum breaks through resistance level 2
