Ethereum Technical Analysis, What is waiting for us this week?
Ethereum, with its great performance, managed to delight investors this week. Ethereum, starting at $ 144 a week next week, closed the week at $ 161, gaining 11.8%. During the week, he tested a $ 166 level, capturing a margin of 100% for three weeks in the $ 83 dip zone. Let’s continue by examining the technical developments during the week.
Ethereum ‘sales pressure on the market because of the beginning of the week begins with a decline. The drop was broken down on Monday at $ 140 a support zone. Also L1 ($ 136) levels were also tested and worked as support. On Tuesday, we see that the $ 140 level has been broken up again with incoming purchases . The price of $ 152 has been broken up on Wednesday . The rest of the week, $ 152 , served as support. I can say that the rising trend of T1 in the dollar chart is still protected. If you look at the ETH / BTC parity, ETH ‘s value is gaining value against Bitcoin throughout the week 1We are testing the number one trend. There is also a negative mismatch in the ETH / BTC chart. When we look at the volume bars in the charts, we can say that this week there is no significant change. As a result of these developments, let us evaluate.
With the upward momentum that Ethereum has captured, he finally sat down on the second place throne on the market. Hope ETH investors will be beneficial. So will the rise of the ETH continue? In fact, this is possible if certain conditions are maintained in technical terms. As for the terms: First of all, I think that the rising trend of T1 in the second chart is important for the short term. Following this trend, the ETH will continue its upward movement. The major resistance zone to be followed is the $ 171 level. On this level L2 ($ 193) horizontal band and A falling trend will come up. However, we should note that in three weeks it has achieved a profit margin of 100%. A possible correction of $ 152 and $ 140The levels are the first support zones to follow. Below these levels L1 ($ 136) is very important support. I believe that the sales pressure will increase below this level. If you look at the ETH / BTC graph 1the falling trend has been tested. There is a pressure when there is no volume supported bar above this level. I believe that this edition will bring about a correction movement in the short term. The negative mismatch between the RSI and the price in the ETH / BTC graph is also a support for the correction movement. However, it should also be noted that it would not be right to conclude that there will definitely be a drop in price as the price rises between the RSI and the price. It will be appropriate to follow the resistances such as resistance zones and candle formations when correcting with incompatibility.
The information, comments and evaluations contained herein are NOT within the scope of Investment Consultancy . (Date of analysis: 07.01.2019)