Ethereum: technical analysis

Current trend. This week, Ether continued its decline and tested the strong level of 100.00 ([4/8]) in the middle of the Murrey trading range. In general, the downward trend set by the Bitcoin Cash hardfork continues. Currently, the volume of trade in the cryptocurrency market continues to decline. Judging by the exit of Stochastic from the oversold zone, from the level of 100.00, an upward correction to the middle line of Bollinger bands in the area of ​​150.00 ([6/8]) can begin. However, the downward reversal of Bollinger bands reflexes the maintenance of the downward trend. If the price is fixed below 100.00, the instrument may fall to 87.50 ([–1/8], Н4) and 75.00 ([3/8]).

Support and resistance

Resistance levels: 125.00, 150.00, 175.00.

Support levels: 100.00, 87.50, 75.00.


Trading tips

Long positions can be opened from the level of 115.00 with the target at 150.00 and stop loss around 98.00.

Short positions can be opened below the level of 100.00 with the targets at 87.50, 75.00 and stop loss around 120.00.

Implementation period: 3–5 days.



Timeframe Weekly
Recommendation BUY STOP
Entry Point 115.00
Take Profit 150.00
Stop Loss 98.00
Key Levels 75.00, 87.50, 100.00, 125.00, 150.00, 175.00


Alternative scenario


Recommendation SELL STOP
Entry Point 95.00
Take Profit 87.50, 75.00
Stop Loss 120.00
Key Levels 75.00, 87.50, 100.00, 125.00, 150.00, 175.00

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