Ethereum

Ethereum: technical analysis

Current trend, Ether price tested the level of 125.00 (4/4) at the lower border of the Bollinger trading range but failed to consolidate below it. Now quotes have entered the growth, which is unlikely to be significant, as technical indicators reflex a continuation of the downward trend: Bollinger bands are reversing downwards, MACD histogram is increasing in the negative zone.

In the near future, a decrease in the price to the levels of 109.38 (Murrey [–1/8]) and 93.75 (Murrey [–2/8]) or the formation of a side channel (presumably 125.00–156.25) are more likely, as it was earlier in cases of lack of drivers movement.

Support and resistance

Resistance levels: 140.63, 156.25, 171.88, 187.50.

Support levels: 125.00, 109.38, 93.75.

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Trading tips

Short positions can be opened from the level of 120.00 with the targets at 109.38, 93.75 and stop loss around 140.00.

Long positions can be opened above the level of 140.63 with the targets at 156.25, 171.88 and stop loss around 123.00.

Implementation period: 3–5 days.

 

Scenario

Timeframe Weekly
Recommendation SELL STOP
Entry Point 120.00
Take Profit 109.38, 93.75
Stop Loss 140.00
Key Levels 93.75, 109.38, 125.00, 140.63, 156.25, 171.88, 187.50

 

Alternative scenario

 

Recommendation BUY STOP
Entry Point 143.00
Take Profit 156.25, 171.88
Stop Loss 123.00
Key Levels 93.75, 109.38, 125.00, 140.63, 156.25, 171.88, 187.50

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