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Ethereum $ETH Price Outlook: Bullish

@KittyBitcoin logo
December 12 2018 20:02 UTC
Ethereum has gained 3.44% or $3 in twenty-four hours. In this Midweek Edition find $ETH price action, trend, technicals and more. Or jump right to the Ethereum $ETH Price Outlook.

 

Price Action

The price of $ETH has risen over twenty-four hours. The last price at press time is $90.13. In Binance light volume trading the daily change is 3.44%, or $3:
$ETH Price Change
period % $
24 hours 3.44 $3
7 days -12.27 $-12.6
1 month -57.61 $-122.47

Promoted

Trend

trend is DOWN

The Ethereum weekly trend is down. The last time we saw this price for ether was on May 17 2017 when one $ETH sold for $90.16. Unquestionably ether is in a downtrend at the moment, for the week and month. In this quarter on October 14 2018 we saw ether spike to $239.

Long traders are still looking for that type of bullish spike again, and a signal indicating an end to the current bearish trend. We do not see that indication today, but the short term outlook is bouyant.

[Trend is "down" when the weekly price movement is predominantly downwards.]

Chart

Tap / click to zoom:

eth-usdt-binance-four-hour-chart-2018-12-12

Remarks

 

Technicals

Moving Average Convergence Divergence (MACD)

The MACD on the four hour chart is bullish.

[MACD is a trend-following momentum indicator]

Exponential Moving Averages (EMA)

period average
7 day $89.28
25 day $90.56
99 day $106.40

The short term EMA is below both the medium and long term EMA but is poised to cross the medium term EMA, headed north. This is a bullish state. Moreover, the bull crossover could trigger further bullish gains.

[EMA is a type of moving average that weights recent price fluctuations more, yielding a better short term signal]

Relative Strength Index (RSI)

The Relative Strength Index on the one hour chart is 59.5. This is a neutral state.

The RSI is firmly in neutral territory as the one hour, two, four, six and twelve hour RSI are all neutral.

[RSI is is a momentum indicator that measures the magnitude of recent price fluctuations to determine an overbought or oversold state]

Bitcoin Price Modifier

The 24 hour Bitcoin change is 2.73%. This may exert a bullish influence on Ethereum today.

[The bitcoin price modifier reflects the historical correlation between the price of $BTC and altcoins]

Ethereum $ETH Price Outlook

bullish

  • the Ethereum $ETH price outlook is bullish
  • if the price finds acceptance at higher levels the immediate resistance prints at 91.31
  • if the price finds acceptance at lower levels the immediate support prints at 88.87

 

Resistance levels: 91.31 98.70 100.00 118.00 130.81

Support levels: 88.87 87.00 85.00 82.07

 

Invalidation: This outlook is no longer valid if the asset has performed outside of its resistance or support levels, or outside of its short term analysis period.

 

Independent Comparison

Comparing our outlook with independent, automated results from Investing.com shows:

Asset: Ethereum $ETH
Time Period: Hourly
Summary: neutral
Moving Averages: sell
Technical Indicators: strong buy

 

Disclosure

The author does not hold Ethereum $ETH at the time of writing.

About @KittyBitcoin

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