Analysis of the price of Ethereum (ETH) 02/12/2019

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  • The price of ETH remained in a range and was consolidated above $ 114 and $ 116 compared to the US dollar.
  • There was a break below a short-term hiring triangle with support at $ 119 on the ETH / USD hourly chart (data through Kraken).
  • The pair could continue to consolidate and could even test the support area of ​​$ 114 in the short term.

Ethereum's price is showing signs of extended consolidation against the US dollar and bitcoin. ETH / USD could decrease towards support of $ 114 before the next upward movement.

Price analysis of Ethereum (ETH)

Recently, we saw a decent upward movement in the ETH price above the $ 122 level against the US dollar. The ETH / USD pair tested the resistance zone of $ 125 and then corrected to the downside. It fell below the levels of $ 124 and $ 122 to start a downward correction in the short term. There was a break below the 50% retracement level of Fibonacci in the last stage, from the minimum of $ 115 to $ 125. The price was even traded below the $ 120 level, but remained above the moving average 100 hours simple

In addition, there was a break below a short-term hiring triangle with support at $ 119 on the ETH / USD hourly chart. The pair tested the $ 117 level, where buyers emerged. In addition, it was negotiated close to the Fibonacci retracement level of 76.4% of the last stage from the minimum of $ 115 to the maximum of $ 125. The pair is currently trading above the support of $ 116, with some signals bearish To rise higher, the price should break the resistance levels of $ 122 and $ 123. On the other hand, if it does not exceed $ 122, ETH sellers can push the price towards the support of $ 114.

Looking at the graph, the ETH price is placed well above the support of $ 114 and the SMA of 100 hours. In the future, there could be range movements above $ 114 before the price makes the next move. It could break the $ 122 resistance or extend the downward correction below $ 114.

Technical indicators

MACD per hour : the MACD for ETH / USD fell in the bearish zone.

RSI per hour : the RSI for ETH / USD is currently moving towards level 50, with a bullish angle.

Higher support level – $ 116

Higher resistance level – $ 122

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Disclaimer: This press release is for informational purposes only, the information does not constitute investment advice or an offer to invest. The opinions expressed in this article are those of the author and do not necessarily represent the views of CriptomonedaseICO , and should not be attributed to, CriptomonedaseICO .

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