Ethereum Is Consolidating :
Price Analysis:
The whole coin market is trading sideways. Right now the price of the ethereum is $ 253.12. Ehtereum is trading sideways from last week. The trend seems to lose its momentum for a while. Price movement is showing indecision in the market. The primary trend still seems bullish. Price is already trading above the 200 MA. The chart is showing some chances of retracement to $201.36. Globalexchange.
MACD is showing some loss in the momentum of the trend. Stochastic is moving around the overbought zone. Globalxchange. Price is rising but volume is reducing from last three days. Ichimoku cloud is indicating a bullish signal for the trend. Conversion Line is moving above the baseline. RSI is near the overbought zone. RSI is having a value of around 67.4.
Strategy :
Globalexchange. Bitcoin Cash is likely to see the small correction. This will create a buying opportunity for traders. To take position wait for the correction. Set the target of $421.7. Volume is moving opposite to the trend from the last few days.
On the other side exit the position if price breaks level1. Chances of bears are little as the whole crypto market is in an uptrend and so as Bitcoin cash. If price breaks Level 2 with high volume then the price level of $500 can be seen. Globalxchange
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