Written by Denis HarrisoncontributorReviewed by Cyril Gilsonformer editorEthereum (ETH) Price Trends: 5/05/2016
MarketsPublishedMay 5, 2016
Ethereum has stopped at the top limit of the flat. Such an advantage on the side of the bulls could provoke an upward impulse.
Ethereum has stopped at the top limit of the flat. Such an advantage on the side of the bulls could provoke an upward impulse.
What is necessary for that impulse to begin?
The fortification alone is not enough, as a false breakthrough can happen and Ethereum’s price will drop sharply as a result, at least down to the bottom limit of the flat. The structure has to include a turnaround wave and a correction, which will form right at a significant level.
Until such a wave forms, there is a possibility of a false breakthrough. For a more confident growth, the structure of Ethereum’s price has to form a turnabout wave and a rebound, which will stop at the level of $10. If that is the case and if a repeated upward breakthrough happens, the odds will lie with an upward trend.
The level of $10 may become a decisive point in the formation of the medium-term trend.
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