Lately, one of the most popular cryptocurrencies Ethereum displayed a solid skyward movement above the $148 and $150 resistance level. Moreover, ETH price increased above the $152 resistance and the 100 hourly SMA. The important question is: Is Ethereum Price going up? Let’s take a look at it in more details.
Is Ethereum Price going up?
Well, the answer is no. After gaining some momentum, the price declined and could not hold the bullish drive and stopped near the $153 level. As a consequence, there was a sharp slump below $150 and the price lost most of its profits.
Now, If you are thinking about investing in Ethereum then ETH can be a lucrative investment alternative. For instance, the current Ethereum price is around 146 USD and now if you buy Ethereum for 100 USD you will get around 0.683 ETH. If you closely observe the ETH price movements a long-term development is assumed, t With a 3 to 5-year investment, the income is supposed to be approximately +160.674%. So, if you invest $100 then the returns may be greater than 250 USD after 3 to 4 years.
— Bitcoin and Ethereum Alerts (@Price_Alerts) December 5, 2019
The DMI on the Ethereum/ USD daily chart displays the bulls at the smallest levels and it is showing no plan of fighting with the bears for activity. Sellers improve their durability and may attempt to crush the ADX line repeatedly.
The Ethereum went below a support area before confirming it as resistance. This implies that further ETH price reductions can occur. In the first half of 2019, the $160 range portrayed as resistance but afterward, the price split down and confirmed it as resistance.
All the signs were there
And even though the resistance flip wasn't picture-perfect, the sentiment remains the same:
— Rekt Capital (@rektcapital) December 3, 2019
To gather, while the Ethereum market evolution hints a bearish forecast, the RSI in various time-frames suggests that the bottom is expected. Whether the price rehabilitates the $160 support zone will decide whether another upward transit is coming.
Instant Crypto Credit Lines™ from only 5.9% APR. Earn up to 8% interest per year on your Stablecoins, USD, EUR & GBP. $100 million custodial insurance.
Follow us on Social Media and subscribe to our free crypto newsletter!
Diskutiere mit uns!
This post may contain promotional links that help us fund the site. When you click on the links, we receive a commission - but the prices do not change for you! :)
Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.
Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future.