Ethereum Long-Term Price Analysis (cryptoglobe.com)
Here’s the best tl;dr summary we could make of cryptoglobe’s ethereum long-term price analysis:
Ethereum is now close to the $100 mark, and as the bulls are currently looking weak the bears may push its price down further.
ETHUSD Long-term Trend – Ranging Distribution territories: $140, $160, $180. Accumulation territories: $80, $60, $40. This week, Ethereum’s price has seen its SMA indicators cross, while it kept on featuring lower lows.
After a long consolidating session, the cryptocurrency has now formed defined zones for its current trading range.
Currently, the price is consolidating between the $120 and $100 territories, as the 50-day SMA is close to the $120 mark while the 14-day SMA is beneath it.
The Stochastic Oscillators are consolidating within the oversold zone, showing the bears’ strong presence in the market.
Original article reduced by: 46%
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Related story: Ethereum Developers Delay Mining Algorithm Change For Code Audit (coindesk.com)
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