Written by Denis HarrisoncontributorReviewed by Cyril Gilsonformer editorEthereum (ETH) Price Trends: 5/04/2016
MarketsPublishedMay 4, 2016
Ethereum’s price is now really close to the top resistance line. A fortification and a turn at that level can provoke a short-term upward trend.
Ethereum’s price is now really close to the top resistance line. A fortification and a turn at that level can provoke a short-term upward trend.
Will a medium-term upward trend begin now?
Not only a short-term, but also a medium-term trend can begin at the level of $10. When two different levels of trends align, it usually signals a powerful upcoming movement.
But before that movement happens, Ethereum’s price has to fortify at that level and form a turn. Otherwise, there will be a rebound towards the bottom limit of the flat - $8.5.
The structure of Ethereum’s price at the level of $10 will hint at the direction of the future trend.
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
