Ethereum started the week at $ 133. Although he retreated to $ 125 during the week, he recovered at this level and closed the week at $ 139, up 4.5%.
Technical developments of the previous week
Ethereum, next week L1 ($ 135) had made the start below the level. By continuing the fall on Monday, B The trend has been tested a second time as support. With purchases from Tuesday, ETH re- L1 ($ 135) We see that it is above its level. Continuing purchases, ETH price to has moved to the falling trend. Long-term declining trend for the rest of the week toWe see that it works as resistance. On the volume side of the graph, we can say that a falling trend has occurred weekly. The RSI is at a moderate level.
When we look at the plan near the chart, $ 125 the level of support works clearly, $ 140 We see that the level works as strong resistance as last week. The decrease in volume appears more pronounced in this graph.
ETH / BTC in the short-term trend of the trend, 4 the number of support has ended by testing. After the test, a strong bar was formed. The rest of the week, we can say that sales pressure occurred.
Let's Evaluate Technical Developments
Ethereum is at a very critical level due to its position on the graph. Especially B the downtrend of this week's trend will be re-tested this week and has an upward reaction; also the long-term falling trend of price toThe fact that it cannot pass through is really important for ETH. When we think about this week's jam, I think the Market Maker is preparing something for next week. Let's look around.
I believe next week will be critical for ETH. It's hard to say clearly here. However, if we set up our scenarios and determine our strategy, it will be possible to capture serious profit margins. First of all for more than a year to the downward trend of falling trend should be considered; If the positive outlook in BTC continues, to it will be inevitable that it will break its falling trend upwards. In this case L2 ($ 192) I believe that an ascent to the level may occur. As intermediate resistance $ 152 and $ 171 levels should be followed. Other situation, to The trend is the increase in pressure and the possibility of the bears winning against the bulls. In this case the decline B and T1 I think that the trend will take place towards the intersection. Breaking down these levels will unfortunately make the table even more negative.
The ETH / BTC parity will undoubtedly influence directly. In the present case 4 ETH / BTC price D1 I think it will be a trend. D1 ' If it breaks up, the ETH / USD parity will continue its upward movement.
Information, reviews and evaluations included here It is NOT within the Scope of Investment Consultancy. (Date of analysis: 11/03/2019)
Graphics Source: TradingView