ETH / USDT: still waiting for $220?

Cryptomaniac
By April 13, 2019 21:24
Ethereum analytics - Coinconomist

Greetings, traders! Let’s analyze today a pair of ETH/USDT. (Poloniex Exchange; timeframe – 1 day).

It has long been a forecast for Ethereum, because of what I decided to update my and your knowledge on this currency. What happened to him for the last period, and what to expect in the future? Let’s understand …

ETH / USDT

ETH is trading at $162. It can be noted that after the breakdown of the level of $155, the mark on which I had previously focused my attention – $184; became a serious resistance; punch that never succeeded.

While the price has fixed at around 0.38 Fibonacci retracement. If the price passes this mark down with a breakdown of the 20-day EMA, then it will signal a bearish sign (along with the MACD moving average cross section and RSI below 50).

If this happens, then there is no need to speak of further growth; In this case, a bearish breakdown of the $155 mark is possible, with a consequent movement towards $122.

However, do not panic. You should leave a Stop Loss for the interval of $150- $155, and wait for the movement indicated by me to complete. If the bulls keep the price above the 20-day EMA, then the uptrend will be able to continue with the subsequent fixation above the $184 mark. Then our expectations of $ 220 remain relevant.

Good luck for everyone and successful trading!

Read also – What do we expect from Ripple?

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Cryptomaniac
By April 13, 2019 21:24