$ETH.X: Stable...

6 ott 2017

While all other cryptocurrencies have been going through rollercoaster rides since the Chinese regulation turbulence, Ethereum has remained quite stable. The ETH/USD exchange rate is currently sitting below its previously formed uptrend, hovering directly in-between both the 50-day and 100-day SMA's. Buy volume seems to be coming in relatively strong, and the MACD is showing no signs of over-bought the volume: the 12-day EMA is on a smooth upward rise with minimal divergence between the 9-day EMA. With this type of stability, the short-term future of Ethereum's price action is quite unclear. However, what can be said is that if the ETH/USD rate continues to experience downward momentum and heads below the $285 level, the possibility of continued bearish movement will become much greater. Similarly, if the ETH/USD rate can re-gain control of its previously formed uptrend and break to the upside around $310-$315, it may just begin to stretch toward all-time highs.