It’s the usual story with Ethereum (ETH). Late June’s local market top has still not found a price floor for its correction, as the leading crypto still deals with the cutting price drop to levels not seen in years. An analysis of the ethereum and US dollar shows that there are fewer chances of price reversals as the price of the ethereum is now currently at the 200 dollar resistance mark. But the good thing is that the volume of the trade was constant and was flat which was shown at the histogram. The histogram has begun to flatten out. On the other front, the weekly chart that showing the correlation between the ethereum and bitcoin (ETH/BTC) shows a period of bottom finding that Ethereum has been showing in recent times. The histogram depicts a picture of ticking up and heading up to possibly reach across positive level soon. he RSI on this timeframe, however, is still pretty grim after recently setting the lowest low on record since December 2015.

image source: www.americancryptoassociation.com

Seeing and analyzing the two-day ethereum bitcoin (ETH/BTC) trading chart there lays pockets of strength that are evident in the graph. Price has here been contained by the 9 exponential moving averages (EMA), so we’re looking for a close above that. Buy volume with twelve hours left within the candles and already at par with the previous amount ought to outstrip the previous bar. The histogram shows a reversal so does the RSI which indicates a bullish divergence from the recent historic correction which is an optimistic sign for a reversal for the leading altcoin. But however, there is some volatility if the chart is analyzed a bit minutely and broken down. For a 4 hour interval indicates a short term trading opportunity.

image source: www.americancryptoassociation.com

Source: Crypto Globe


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