Technical analytics

Ethereum market technical outlook

Cryptocurrencies

Daily chart:

Ethereum didn’t reach the upper Bollinger band and switched to downward correction phase, which can hit the middle Bollinger band (127 dollars for a coin).

But considering the properties of Bollinger bands, we need to keep in mind an option of reaching the resistance level 166 (upper Bollinger band).




H4-chart:

Area of horizontal trading in the 143-154 channel (Bollinger bands), where a trending potential continues to accumulate.



H1-chart:

An active upward bounce from the support 146 at the area of lower Bollinger band can prove to be the trigger for new upward wave in direction of the resistances 150 and 154 (middle and upper Bollinger bands).


Expectations:

So, intraday recovery of ethereum towards 150-154 dollars for a coin is expected.

Trading recommendations:

  1. Short-term longs towards 150 and 154.

  2. Looking for probable sell signals at the 150 and 154 handles.

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