Written by Denis HarrisoncontributorReviewed by Cyril Gilsonformer editorEthereum (ETH) Price Trends: 4/25/2016
MarketsPublishedApr 25, 2016
Ethereum’s price has formed a flat. It may provoke a short-term trend when it leaves the corridor.
Ethereum’s price has formed a flat. It may provoke a short-term trend when it leaves the corridor.
Which direction will Ethereum choose?
The downward trend on Ethereum’s market is not broken yet. The price is moving within a flat, preparing for another dash.
One of the boundaries of that flat will be a starting point for the short-term trend. Because the trend is heading downward and there was no turn, $8.4, which is the top limit of the flat, will also be the peak of a rebound.
If the downward trend is to continue, there will be a bounce off that point, but if the bulls hold the advantage, Ethereum’s price will start fortifying at that level.
The change of trends is most likely to happen at the top limit of the trend, which is at the level of $8.4.
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
