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Technical Analysis of Ethereum 03.06.2019

Ethereum price as of the beginning of 2019 by following the bitcoin price has risen. As in his earlier moves during this ascension process, Bitcoin made similar moves on May 14, 2019, following the breaking of the upper band of the 200-day Bolinger Band on May 11, 2019 at daily prices.

In the last 15-20 days, the price continues to move on the band. However, it may not be possible to maintain this situation as in Bitcoin.

It is very difficult for the price to remain outside the Bollinger Band by maintaining this movement. Considering 15-20 days, it is obvious that this situation cannot be permanent.

At this point the price must turn into the Bollinger Band. In previous Ethereum movements, similar to Bitcoin movements, it was observed that the price within the band was within 30-40 days. For the return to the band, there will be a regression in price, either with the horizontal movement and after a while the price will re-enter the band.

The first possibility is a correction in the price of Ethereum, the price enters the Bollinger Band in the price of $ 200 should be withdrawn. Obviously, this possibility is diminishing when we consider the Osumitor of the Osama. If this happens, it can be said that it will take place in the next 10 to 20 days.

The second possibility is that the Ethereum price moves in a narrow band, and if the price enters the Bollinger Band, the price must move within a range of $ 250 to $ 300. In this case, it can be said that the next 40-60 days may be a movement.

It is highly probable that Ethereum mobility following Bitcoin price will be post-Bitcoin. Therefore, especially in this period, the price and movement of Bitcoin is useful to follow.

The information, comments and evaluations contained herein are NOT within the scope of Investment Consultancy . (Date of analysis: 03/06/2019)

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