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Ethereum Market Report: Slightly Bullish

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December 30 2018 17:51 UTC

 

Ethereum has gained 1.91% or 2.54 USDT in twenty-four hours. In this Weekend 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 135.68 USDT. In Binance moderate to heavy volume trading the daily change is 1.91%, or 2.54 USDT:
$ETH Price Change
period % USDT
24 hours 1.91 2.54
7 days 5.15 6.65
1 month 19.32 21.97

News

Trend

trend is UP

The Ethereum three day trend is up. After a nine day Christmas Rally which started on December 15 2018 $BTC nosed downwards – and ether slid with it on December 24 2018. Ether dipped again on the 26th but the three days since has shown upwards price movement.

[Trend is "up" when the three day price movement is predominantly upwards.]

Real Time Market Depth

The real time market depth is strongly bullish.

 

[The real time market depth is a fractional representation of the order book, used to assist in determining market direction.]

Chart

Tap / click to zoom:

eth-usdt-binance-four-hour-candles-2018-12-30

 

Remarks

The latest $ETH leg shows some promise of upwards lift.

Ether showed strong upwards moves during five 4 hour sessions late on the evening of the 27th. A later spike pushed a session high to $145.42 at noon on the 29th for a four hour session scope of $13.42. The high did not hold and the candlestick pattern shows bulls testing $ETH resistance as ether climbs higher.

The up trend scenario of today and ether (report generation) last price of $135.68 contrasts starkly against this month’s – and this year’s – December 15 2018 low of $81.79.

 

Technicals

Moving Average Convergence Divergence (MACD)

The MACD on the four hour chart is bullish. The last thirteen 4 hour sessions have all been bullish.

[MACD is a trend-following momentum indicator]

 

Exponential Moving Averages (EMA)

period average
7 day 134.28
25 day 130.05
99 day 118.54

The short term EMA(7) is above both the medium EMA(25) and long term EMA(99). The four hour chart shows the EMA(7) gently sloping up. This is a bullish state.

The one hour chart shows EMA(7) leveling out with a slightly nosing down angle. This one hour look is neutral to very slightly bearish.

[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 four hour chart is 59.2. This is a neutral state.

There’s room to move either way.

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

 

Bitcoin $BTC Price Modifier

The 24 hour Bitcoin $BTC change is -0.19%. This may exert a neutral influence on Ethereum today.

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

 

Ethereum $ETH Price Outlook

slightly bullish

  • the Ethereum $ETH price outlook is slightly bullish
  • if the price finds acceptance at higher levels the major resistance prints at 137
  • if the price finds acceptance at lower levels the major support prints at 113
Resistance levels: 137 145

Support levels: 113 127 131

 

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 duration.

 

Analysis Duration: four hours

This report is for a short term duration of four hours. Analysis is time sensitive.

[Analysis duration yields a “best before date”, calculated from report generation at December 30 2018 17:51 UTC.]

 

Independent Comparison

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

Asset: Ethereum $ETH
Time Period: 5 Hours
Summary: strong buy
Moving Averages: buy
Technical Indicators: strong buy

 

Disclosure

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

About @KittyBitcoin

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