Weekly Technical Analysis Of Ethereum

in cryptocurrency •  26 days ago

Summary

  • ETH prices have been falling consistently on the back of ICO sell-offs and the founder's comments of slower rollouts.

  • Technical analysis shows resistance channels and long-term support floors.

  • Analysis shows a bearish call for ETH in the long term right now.

Ethereum has had a tough September, highlighted clearly last week which saw ETH-USD prices plummeting as low as $165 on the back of heavy selling. However, this marked an area where price action on the weekly chart had formed previous support in October 2017. This area also corresponds to a price area which falls on the lower channel trendline on the downward channel found on the weekly chart below.

Great TA article over at Seeking Alpha courtesy of The Freedonia Cooperative, link below

https://seekingalpha.com/article/4206927-weekly-technical-analysis-ethereum

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