Ethereum

Ethereum (ETH) Daily Price Forecast – November, 19, 2018

Current trend, On Wednesday, the cryptocurrency market collapsed – in a few hours its capitalization decreased by about $27 billion and now stands at $183 billion. Almost all trading instruments experienced the weakening of varying degrees. Ether lost 13.6%, and in terms of total capitalization it lost the second line in the list of the largest currencies to Ripple. The exact causes of the incident are not yet known, but, according to most observers, they are speculative in nature. The collapse began with a major liquidation of long positions on the BitMEX exchange, and then was supported by other exchanges. The fall in prices could also be influenced by the withdrawal of investors into stablecoins, whose number is gradually expanding, and the withdrawal of miners from Bitcoin, since its price below 5,800 is not profitable for production.

Ethereum (ETH) Daily Price Forecast – November, 19, 2018

 

Support and resistance

Currently, the price is around 171.88 (Murray [3/8]) and may continue to decline to the levels of 156.25 (Murray [2/8]) and 140.63 (Murray [1/8]). However, the price going beyond the lower Bollinger band and the reversal of the Stochastic in the oversold zone indicate a perspective of corrective growth to the levels of 187.50 (Murray [4/8]) and 203.13 (Murray [5/8]).

Support levels: 156.25, 140.63, 125.00.

Resistance levels: 187.50, 203.13.

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Trading tips

Long positions can be opened at the current price with targets of 187.50, 203.13 and a stop loss around 175.00.

Short positions should be opened below the level of 171.88 with targets at 140.63, 125.00 and a stop loss around ​​185.00. Implementation period: 4-5 days.

 

Scenario

Timeframe Weekly
Recommendation BUY
Entry Point 180.53
Take Profit 187.50, 203.13
Stop Loss 175.00
Key Levels 125.00, 140.63, 156.25, 187.50, 203.13

 

Alternative scenario

 

Recommendation SELL STOP
Entry Point 168.00
Take Profit 140.63, 125.00
Stop Loss 185.00
Key Levels 125.00, 140.63, 156.25, 187.50, 203.13

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