Written by Denis HarrisoncontributorReviewed by Cyril Gilsonformer editorEthereum (ETH) Price Trends: 4/08/2016
MarketsPublishedApr 8, 2016
Ethereum’s price has carried out one of the trend development scenarios. The downward trend continues.
Ethereum’s price has carried out one of the trend development scenarios. The downward trend continues.
What level will prove critical for this trend?
Ethereum’s market has picked a downward scenario, discarding the possibility of forming a turn to growth. Despite the price fortifying at a level profitable for the bears, the bulls have failed to hold the advantage, and thus there was no turn to growth.
The short-term downward trend will continue, as long as the advantage stays with the bears. The most likely point for a turn to growth is at $10.3, where a lot of trading volume converges. That price is profitable for the bears, and if they are in the minority, Ethereum’s price will fortify at that mark and form a turn to growth.
However, before the fortification and turn happen at the $10.3 mark, there is but one scenario, and that is continued decline.
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