Ethereum Price Analysis: July 11 - July 18

 Gooood Morning fellow Steemians,

 I hope all is great with al of you.

USDT\ETH

No upward reversal

Etereum Buyers passed the correction phase.  An surge of price from $170  to $230, only confirms it. Turn at $240 would signal that the trend is broken and, therefore, the advantage is now on the side of the BULLS.  It’s the most likely a Reversal scenario. Ethereum price reached only $225 , indicates that BEARS maintained the advantage. 

 

Uptrend analysis

Huge  correction after the growth of $10 was expected. The first signal at the end of May after the price reached $200 and collapsed by nearly 50 percent. The demand was gradualy iincrreasinng, and it gave chance for a large traders to invest even more. But a suddeb drop from $400 ended the up-trend, that begun in December 2016. If we analyze purchases, we can that the main volume of transactions was made at the $20 to $50 range, and from the $300 level, the volume of the purchase began to fall. There was a huge demand for Ethereum at the $350 to $400 prices, which allowed investors to gain  more than 500 percent of the profit. 

 Current situation

Until the structure of the downtrend is broken, we should consider any growth as a correction wave. The trend break will show a market reversal’ ATM, the breaking point of the downward structure is somewhere at $ 190-200.  at least for correction, requires a turn at this point. If there will be no market shift, then the downtrend will probably continue. 

 

USDT\ETC

Ethereum Classic couldn’t hold

After a rebound From the Lowest point  of t $13, ETC stopped at the key price around $15 to $16. The trend failed to gain a foothold at profitable for sellers area. As a result, the supply overctched the demand and ETC price continued to fall. 

 

increase in volatility

ETC is traded at the lowest point. That is why there is a high probability of volatility  since traders manifest themselves at these key levels. The current $19.5 to $13 flat wave can turn into a reversal point, where the  exit from and a more  fall may follow.  If there is a turn there, chances are the flat will go on. 

 

What to expect

USDT\ETH

If there is a $200 rebound, then there is a high hance for a correction of the entire down-trend from $400.

USDT\ETC

If there is a shift  up at $15 to $16, then the uptrend is likely to reach 7.50+ point. 

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@dattabitcoin - CryptoAstronaut