Receive all Cointelegraph news immediately in Telegram.
Ethereum continues going along its upward trend. An exit from the medium-term flat could provoke an upward impulse.
A fortification at a key level of $9.5 was followed by a natural impulse. There were several factors which have influenced that trend. Firstly, there was no medium-term turn, with Ethereum’s price reaching the peak of a correction and stopping at a level of the largest accumulated trading volumes of $9. Secondly, the medium-term trend has been broken at the level of $9.5.
This way, by analyzing the current upward trend, we can find the most likely point for it to end. First of all, the medium-term flat could continue and the current upward movement could turn out to be just one of its waves. That will mean that Ethereum’s price will stop near the peak of this upward trend. Secondly, if the structure of the upward trend is disrupted, that will be an even more significant confirmation, and the price will fall.
The level of $9.8 is responsible for the structure of the upward trend, and it is most likely to end there.
Follow us on Facebook
For updates and exclusive offers, enter your e-mail below.
One fine body…
Thank you for contacting us! We will reply to you as soon as possible.
Thank you for your interest in our franchise program.
We are considering your request and will contact you in due course. If you have any further queries, please contact:
Reset letter sent.
Please checkout your mailbox for password reset details