$ETH.X: Stable...
While all other cryptocurrencies have been going through rollercoaster rides since the Chinese regulation turbulence, Ethereum has remained quite stable. The ETH/USD exchange rate is currently sitting below its previously formed uptrend, hovering directly in-between both the 50-day and 100-day SMA's. Buy volume seems to be coming in relatively strong, and the MACD is showing no signs of over-bought the volume: the 12-day EMA is on a smooth upward rise with minimal divergence between the 9-day EMA. With this type of stability, the short-term future of Ethereum's price action is quite unclear. However, what can be said is that if the ETH/USD rate continues to experience downward momentum and heads below the $285 level, the possibility of continued bearish movement will become much greater. Similarly, if the ETH/USD rate can re-gain control of its previously formed uptrend and break to the upside around $310-$315, it may just begin to stretch toward all-time highs.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.