Buyers have been able to raise Ethereum price action above the $1700 price level. However, no sooner than the Ethereum price was nearly capturing the $1800 price level did sellers commence their rampage. Consequently, the activities of sellers have caused the price to retrace lower support at $1711.
Ethereum Forecast Statistics Data:
ETH current price: $1711.10
ETH market cap: $211.24 billion
ETH circulating supply: 122.34 million
ETH total supply: 122.34 million
ETH Coinmarketcap ranking: #2
Nevertheless, we shall further study the ETH/USD market and the ETH/BTC market. This we shall do to deduce profitable move which could be taken by traders in this market. Without wasting any more time, let’s dive in.
Key Value Levels:
Ceiling Level: $1770, 1800, $1840
Floor Level: $1711, $1690, $1650
Ethereum Faces Rejection, Tamadoge to Pump Furiously
Price Activity on the ETH/USD daily chart reveals that buyers in this market have significantly pushed prices higher. And, even at this point price movement still maintains some positivity. We can see that the bears have taken control and have corrected the price to lower support. Nevertheless, we can see Etereum that price activity stays above the 9 and 21-days MA. Therefore, we can expect an upside reversal. Additionally, the MACD indicator is still pointing to a gradual increase in upward momentum. The lines of the MACD can be seen rising above the 0.00 level as the green histogram grows to indicate a possible uptrend. Consequently, Traders can besiege the possible uptrend by placing a buy order of around $1800.
Ethereum Price Analysis: ETH/BTC Begins an Upside Correction
Contrary to the possibilities of an upside reversal seen in the ETH/USD market, The ETH/BTC market show possibilities of further downside value retracement. Here it could be perceived that value has fallen below the 9 and 21-days MA. Also, the MACD curves have just delivered a cross above the 0.00 level to signify a downward correction.
Your capital is at risk
From all the signs perceived from trading indicators, traders in this market should anticipate that the downtrend will continue. Traders can consider going shot since it appears that downside pressure is on. Consequently, the value of Ethereum against the Bitcoin may correct to 0.07500.
Tamadoge completed the seventh phase of the presale over a month after it kicked off. The TAMA token was priced at 1 USDT = 40 TAMA during this seventh phase. After the $13.25 million milestone was achieved, the token’s price appreciated to 1 USDT = 36.36 TAMA, which is now the eighth phase. The eighth phase will be completed soon if the demand continues piling up at the rate it has done over the past month. The next phase will be the ninth and final phase. The price will also be higher during this phase as 1 USDT = 33.33 TAMA tokens.
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