Weekly reviews

Ethereum market technical outlook

Cryptocurrencies

Daily chart:

Extremely low volatility last week doesn’t cancel a probable further downward movement in direction of the lower Bollinger band (65 dollars for a coin). Though this scenario can be postponed tangibly, since ADX readings correspond to a flat market, that may leave the quotes at the 120 region.


Expectations:

Main scenario: Flat around the area of 120 dollars for a coin.

Alternative scenario: Decline under the 100.00 handle with mid-term aim at the 65 level.

Trading recommendations:

Seeking for local short-signals.


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