Hello, dear members of LeoFinance!
Today I will comment on the price chart of Ethereum.
So, in the daily chart (1D), the price of Ethereum has temporarily found support at the 30-day Moving Average (30 MA) after the current pullback:
In my view, the uptrend may resume if ETH/USD manages to exit the descending channel in the 1-hour chart:
However, we have to keep in mind, that ETH/USD is still within the descending channel and still, there is no breakout. Thus, at the moment, there is no reliable bullish signal presaging uptrend renewal.
To be continued ...
As of the time of writing, one Ethereum costs $594,10 on Coinbase crypto exchange, according to TradingView.
A few words about me:
Just to let you know: I've been working professionally as a currency analyst for the last 14+ years, and as a cryptocurrency analyst for the last 3+ years.
Important!
Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency/commodity trades, investments and etc.
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