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Price Analysis

📈Ethereum (ETH) Price Analysis | Daily Price Analysis | October 17, 2018

Resistance and support zones for ETH:

Resistance zones: $222, $234, $242

Support zones: $213, $203, $195

ETH Price Analysis for Medium-term: Ranging

Ethereum for Medium-term Price Analysis | October 17, 2018

ETH is ranging in its medium-term. Shortly after the bulls took over, the market and the price rapidly increased to the resistance level of $251 and the market was pushed down to the support zone of $208 by the increased momentum of the bears. The bears moved the market down further, leading to consolidation.

The coin may resume its uptrend movement to the next resistance zone of $222 in case the bulls increase their momentum.

ETH is above the 4-day EMA and 50-day EMA with the RSI 14 above 50 levels and its signal lines point to the north which indicates a buy signal.

ETH Price Analysis for Short-term: Bearish

Ethereum for Short-term Price Analysis | October 17, 2018

ETH is also ranging in its short-term. The sideways movement commenced immediately after the coin made a rapid and sudden uptrend movement towards the resistance zone of $251, after which it was rejected by the bears with the formation of long upper wick candles. This indicates a rejection of uptrend movement by the bears, followed by the formation of more bearish candles which led the market to the support zone of $208.

Further increase of the bears will expose the coin to the support zone of $195.

The market is on the 4-day EMA and 50-day EMA with the RSI 14 above 50 level. Signal lines point upward. which suggest buying signal.

 

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