in ,

Ethereum (ETH) Long-term Price Analysis –– April 6 Bullish

ETHUSD Long-term Trend – Bullish

  • The market’s bullish sentiment could be maintained, as the 14-day SMA won’t easily be broken downwards.
  • A breakout above the $180 mark could soon lead to a trend reversal, leading to a bearish trend.
  • Distribution territories: $190, $200, $210
  • Accumulation territories: $120, $110, $100

Ethereum’s price has been rising against the US dollar in the last few trading sessions of the week. The cryptocurrency is, however, still trading within the boundaries of a specific range.

Ethereum Chart by TradingView

On April 2, the cryptocurrency surged from its position at the $140 mark to test a $180 high on the following day. Ethereum receded to touch the $150 line, where it then bounced back. The 14-day SMA is located over the 50-day SMA.

The Stochastic Oscillators have crossed within the ranges 80 and 60 and are pointing south. The market’s bullish sentiment could be maintained, as the 14-day SMA won’t easily be broken downwards.

A breakout above the $180 mark could soon lead to a trend reversal, leading to a bearish trend.

What do you think?

345 points
Upvote Downvote

Written by Ravi Gupat

Ravi grew up in India and graduated in Economics. He is a serial entrepreneur who has founded and exited several companies in tech and media over the past 15 years. He is also an early stage investor and advisor in various blockchain-based companies.

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Loading…

0

Comments

0 comments

Cardano (ADA) Price Analysis – April 4 Bullish  

EOS Long-term Price Analysis – April 6 Bullish