Ethereum (ETH) Long-term Price Analysis – January 12

Google+ Pinterest LinkedIn Tumblr +

/latest/2019/01/ethereum-eth-long-term-price-analysis-january-12/

Ethereum (ETH) Long-term Price Analysis – January 12

ethereum-eth-long-term-price-analysis-january-12

  • There’s a possibility the cryptocurrency will now start trading between the $120 and $100 marks.
  • If the $100 mark is to be breached southwards, the cryptocurrency may go down to the $80 mark.

ETHUSD Long-term Trend – Bearish

  • Distribution territories: $200, $220, $240
  • Accumulation territories: $90, $70, $50

On January 10, Ethereum’s price went through a notable decline after it was trading along the $160 mark. The cryptocurrency failed to push past said mark after trading between the $160 and $140 range, and ended up falling below it.

Ethereum, ETHUSD, Cryptocompare chartEthereum Chart by TradingView

The cryptocurrency’s 14-day SMA is bent southwards while being over the 50-day SMA. The Stochastic Oscillators are trying to move into the oversold zone, which indicates the bear market may be about to return.

There’s a possibility the cryptocurrency will now start trading between the $120 and $100 marks. If the $100 mark is to be breached southwards, the cryptocurrency may go down to the $80 mark. While we figure it out, traders can be on the lookout for a decent position to enter the market.

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.

Share.

Leave A Reply