Price analysis on Ethereum

Ethereum is looking strong. After the dip caused by the China ICO ban, it has yet to re-cross the $300 mark, which is a psychological level of resistance/support for traders. Usually you will find large sell limit orders (or buy limit orders if the price is in a downtrend) as seen here:

From a technical perspective, Ethereum is looking very bullish. The MACD indicator (which is a very popular tool used to determine the start of bullish and bearish trends) just signalled a bullish trend as the black line (12 day price moving average) crossed over the red line (26 day price moving average). Any time the black line crosses the red line, it usually indicates a new trend as it has back in July and early September.

We expect the price to spike once it break the $300 sell wall. It's looking to retest that level. If it fails, expect a small drop only then retest and break the $300 mark.