Monthly reviews

Ethereum market technical outlook

Cryptocurrencies

Monthly chart:

Ethereum in synchrony with bitcoin gets a local support at the handle of 100 dollars on background of upbeat investors and probable undervaluation of this coin. The target of correction might be the middle Bollinger band (332.44), but due to active trending ADX long-term tendency for quotes’ decline can be continued. December’s bar can’t regarded as reversal signal.


Expectations:

So, the situation is arguable. Upward correction in direction 332.22 can be continued as well as decline in direction 50.00.

Trading recommendations:

Looking for local confirming signals to open trades.