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Ethereum (ETH) Might Take A While To Drop Below $160


Ethereum (ETH) has faced a strong rejection at a critical trend line resistance which means the price is highly likely to decline in the weeks ahead. However, now that it has declined so sharply in such a short time, we expect the price to take a while to consolidate or rally before it can fall further. The 4H chart for ETH/USD shows that the price has ample room to rally considering that its Stochastic RSI is oversold short term and the RSI has found a trend line support that could see the price rally back towards the top of the symmetrical triangle in the days ahead. Ethereum (ETH) has seen a lot of positive developments recently which are likely to reflect in its price in the near future. The sentiment remains bullish despite the recent setback and the bulls could push the price back above $180.

The trading volume for ETH/USD continues to decline but investors are eager to accumulate for long term as the price is down more than 85% from its all-time high. For value investors…



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2019-04-12 15:30:00

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