Written by Denis HarrisoncontributorReviewed by Cyril Gilsonformer editorEthereum (ETH) Price Trends: 4/11/2016
MarketsPublishedApr 11, 2016
The downward trend on Ethereum’s market has lead the price to an important medium-term resistance. The trend is most likely to change at that point.
The downward trend on Ethereum’s market has lead the price to an important medium-term resistance. The trend is most likely to change at that point.
Is the current trend nearing its end?
Ethereum’s price has stopped at a long-term level, which already indicates that there are a number bulls out there.
But whether the nature of those purchases is long-term or short-term will only become clear after analyzing the further structure of Ethereum’s price.
For the formation of a short-term upward trend to begin, Ethereum’s price will have to fortify at the largest accumulated trading volume mark, which is $8.8, and form a turn. Such movement can provoke the further formation of a medium-term upward trend.
Until a turn happens at the level of $8.8, the downward trend will continue.
Subscribe to daily byte-sized crypto news from Cointelegraph
This article is produced in accordance with Cointelegraph's Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.
More on the subject
