Ethereum (ETH) Price Trends: 5/10/2016

A correction toward the upward Ethereum trend continues. How long will it last?

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Ethereum (ETH) Price Trends: 5/10/2016

A correction toward the upward Ethereum trend continues. How long will it last?

The main trend is upward

Until Ethereum’s price fortifies at the protective level of $9 and forms a turn, the chances are that the upward trend will continue.

ETH/USD price chart 1

A fortification and a turn at the level of $9 will indicate that there’s no support for the current upward movement, and, in that case, there will be a fall. However, at the level of $9.5 the structure of the downward movement can be disrupted. If Ethereum’s price fortifies and forms a turn at that mark, there will be a good probability of a continuation of the upward trend. Otherwise, there will be a downward rebound.

ETH/USD price chart 2

The $9.5 resistance line is the most likely point for the current rebound to end and the upward trend to resume.

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