Ethereum: price analysis and weekly update

As far as ethereum is concerned, I must immediately admit that I am not a great fan of this cryptocurrency, which seems to me to be present in many critical situations today and with in addition also others rumors; this does not mean that you can not even trade on a crypt that seems to be going through a not particularly brilliant moment. Going to take a look at the charts, however, we immediately realize that it is not the time to open a position on ethereum paired with bitcoins, after a rise that brought him within a month to appreciate about 50 % compared to the queen of cryptocurrencies, now ETH seems mature to go back down after having touched the new resistance at 0.085. The 1D chart (again for the ETH / BTC pair) clearly shows a bearish divergence on the MACD (now near to the downside the zero line). My advice (for those who trade for accumulate bitcoins) is not to open positions on ETH this week. Unlike, for the discussion regarding the ETH / USDT trading, in this case the 1W chart seems relatively interesting (and seems to follow the bitcoin prices a bit); the 1D chart also shows a bearish divergence, but after a first heavy retracement the price seems to have rebounded with a certain strength on the support at 512 dollars and the MACD has returned bullish (although at the moment stations still below the zero line). The 4H chart shows that we are in a bullish phase (ichimoku looks decidedly bullish with the price that has just peaked out of the cloud), so we say that a rise between 650 $ and 700 $ I would consider it very probable at this time, place that nothing is certain in the trading world and that every operation always carries the risk of huge losses, so if you decide to open a position, never bet more than you are willing to lose.

About Andrea Romanazzi 4 Articles
Entrepreneur and independent financial analyst, Andrea is a cryptocurrency trader who over time has developed his own trading strategy. He is the author of the course "criptovalute trading" published in the trading section of this site, follows the markets daily trying to seize the best opportunities that arise to obtain profits. eMail: andrea@altcoinews.it

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