Ethereum (ETH) Price Trends: 4/22/2016

Ethereum is forming a downward trend. For how long will that movement continue?

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Ethereum (ETH) Price Trends: 4/22/2016

Ethereum is forming a downward trend. For how long will that movement continue?

Is the medium-term downward trend continuing?

After fortifying and forming a turn to decline at the $8.5 resistance line, Ethereum’s price has formed a short-term downward trend.

ETH/USD price chart 1

If the trend’s structure remains intact, the most significant target will be at $7. The most likely turning point, as well as the peak of a rebound towards the downward trend is $8 - the level of the largest accumulated trading volumes. If a turn is formed at that mark, it will indicate that the bulls have won the advantage, and in that case the following upward momentum may be stronger.

ETH/USD price chart 2

The critical level for the downward trend is the same as before - $8.5. The structure of Ethereum’s price at that level will be an indicator of the future trend.

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