Ethereum (ETH) Price Trends: 4/07/2016

Ethereum’s price is fortifying at a key level. That is the first signal of a turn to growth. Will the upward trend continue?

What needs to happen for a turn to growth?

A fortification at key bear level indicates the lack of demand. The bulls are holding the advantage.

Ethereum (ETH) price chart

If this continues and Ethereum’s price starts forming a turn to growth, there will be a high probability of larger scale correction towards the next target of $11.1 - $11.2.

Ethereum (ETH) price chart

If, however, the bulls win the advantage, the $10.2 mark will become a key resistance line. A fortification and formation of a turn at it will most likely provoke further downward movement toward $9.5.

Ethereum (ETH) price chart

The structure of Ethereum’s price at $10.7 will determine if the market is going to form a turn to growth or rebound and continue falling.