Written by Denis HarrisoncontributorReviewed by Cyril Gilsonformer editorEthereum (ETH) Price Trends: 5/06/2016
MarketsPublishedMay 6, 2016
Ethereum’s price has formed an upward turnaround wave. Will there be a turn?
Ethereum’s price has formed an upward turnaround wave. Will there be a turn?
Where will the upward trend be cancelled?
There is a fortification at the level of $10, and a turnaround wave has been formed. In such conditions, the odds are lying with an upward turn. I.e. in case of a repeated break through the peak of the wave, the movemet is more likely to go along an upward trend, rather than a downward one.
But another option is possible nevertheless. There is always a probability of a cancellation of a movement. That’s why the level protecting the upward trend is at $9.3. A new rebound may happen off that level, or a fortification followed by a turn to decline.
The upward trend will be broken if Ethereum’s price reaches $9.3. A new downward trend may begin at that level.
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