Ethereum Price Analysis – July 5

Ethereum Medium-term Trend: Bullish

 

 
Supply zones: $550, $600, $650
Demand zones: $350, $300, $250-

 
Ethereum remains in a bullish trend in the medium-term outlook. The formation of bullish candles at the 50.0 fib level was good confirmation for the bulls as price was pushed up to $482.12 in the supply area.

 
Minor pullback due to bears pressure occurred as price went down to $461.00 in the demand area and above the 50-EMA. The bullish spinning top a reversal candlestick pattern, in the area was a good set up for the bulls return and price was pushed higher above the 23.1 fib level which is a trend continuation zone.

 
The stochastic oscillator is at 57 percent with signal pointing up suggesting upward movement in the price of the cryptocurrency just as the bulls increase their momentum and pressure.

 
Ethereum short-term Trend: Bullish
The cryptoasset continues in a bullish trend in the short-term outlook. The formation of two pinbars candles at the opening of the market was sure indication of the bears’ failure at $461.00 in the demand area for further downward price movement.

 
The bulls strong momentum and pressure saw the cryptoasset at $476.00 in the supply area above the two EMAs crossover.

 
Price is forming higher highs and higher lows that are characteristic of a bullish market. As more bullish candles are formed above the crossover due to the bullish momentum, new higher highs and lows may be formed in the short-term.

 

 

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.

 

Source: https://www.cryptoglobe.com/markets

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

Follow @ItuGlobal

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Ltd. ADVFN Ltd does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

WHAT IS ADVFN?

ADVFN covers all things stock market.

From the news and opinion pieces on pages like this to share discussion forums, charting tools, financials, live share prices and Level 2, order book data

If you trade or invest ADVFN has the tools you need to make the right decisions.

• 

  101 Ways to Pick Stock Market Winners

  You need the number one bestselling investment guide, the definitive text for day traders, investors and stock pickers.

• 

  The Death of Wealth

  Dissecting the global economy and the financial markets, the book lays out the evidence for the next economic game changer: the Death of Wealth.

• 

  Ramla Soni

• 

  Luis Aureliano

• 

  ActivTrades

• 

  Thierry Laduguie