ETHEREUM (ETH/USD): After a Sharp Move, Ethereum Remains on the Decline Author: Azeez Mustapha Last Updated: 16 July 2019 ETH Price Analysis – July 16 Since last month, the Ethereum markets have been down. However, high volatility should help restore the uptrend. Otherwise, ETH would remain in its current downtrend. ETH/USD Market Key Levels: Resistance levels: $305, $310, $315 Support levels: $120, $115, $110 ETHUSD – Daily Chart Ethereum failed to find support at $200, as seen in the daily chart. The price brought declines to $190. With a loss of over 13%, ETH/USD is changing hands at $197. The prevailing trend is strongly bearish. However, it is essential that the bulls push the price above $200 to avoid further declines. In addition, the Ethereum bears managed to push the price well below the critical level of $200 below the 21-day moving average. To follow both the RSI and MACD signals, a possible decline could meet demand at $120, $115 and $110. On the other hand, a sustained recovery above $270 could push the coin up to $305, resistance levels of $310 and $315 are needed to ease the immediate downward pressure. ETH/BTC Market Against BTC, the support around 0.025BTC failed and the price tested the range at 0.02BTC but the RSI and THE stochastic RSI indicators show that there is a chance to break down to 0.017BTC. That’s not a positive sign from a technical point of view. Resistance in this range is at 0.026BTC and beyond. ETHBTC – Daily Chart However, should in case the Ethereum price decides to move in an upward movement, it would quickly touch 0.026BTC resistance level. Similarly, a downward movement is likely to bottom at 0.015BTC and below. Please note: insidebitcoins.com is not a financial advisor. Do your own research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
