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Price Analysis

📈Ethereum (ETH) Price Analysis | Daily Price Analysis | October 18, 2018

Resistance and support zones for ETH :

Resistance zones: $218, $225, $231

Support zones: $209, $203, $195

ETH Price Analysis for Medium-term: Ranging

Ethereum for Medium-term Price Analysis | October 18, 2018

ETH is still ranging in its medium-term. The bears do not have enough momentum to move the market from its consolidated state by the break down of the near support zone of $209. Likewise, the bulls have not displayed enough pressure to break up the resistance zone of $218. The coin is trading between the ranging bound of resistance level of $218 and the support zone of $209.  

Should the bears increase their momentum and break down-side the support zone of $209, a downtrend movement will be experienced and the support zone of $203 will be exposed.

ETH is on a 4-day EMA and 50-day EMA with the two EMAs interlocked to each other, indicating a continuation of consolidation. The RSI 14 is on 40 levels and its signal lines are parallel without direction indicating consolidation.

ETH Price Analysis for Short-term: Bearish

Ethereum for Short-term Price Analysis | October 18, 2018

The cryptocurrency is also consolidating on the 1-Hour chart. The coin is consolidating within the range bound resistance zone of $218 and the support zone of $209. The coin may resume its uptrend movement to the next resistance zone of $218  in case the bulls increase their momentum. Further increase of the bulls’ pressure will expose the coin to the resistance zone of $225.

The market is on the 4-day EMA and 50-day EMA, both EMAs are interlocked to each other on the 1-Hour chart which implies further consolidation. The RSI 14 is on the 40 level with signal lines parallel without direction, indicating a consolidation in progress.

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