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Brief Ethereum Price Analysis
Let’s go ahead and look at the most recent price action for Ethereum in the chart below:
In order to get a better idea of future price action, we’re going to go ahead and ‘zoom in’ to some smaller chart resolutions (lower time frames).
H4 Chart Resolution for Ethereum
Based on what can be seen in the chart above, we firmly believe that the price of $113 is the maximum upside for Ethereum in the near-term.
It also seems to be a bit more likely (based on the direction of the RSI(14) in the picture above), that the price will re-test $101 before making a definitive move upward to test that short-term downtrend resistance.
Despite this somewhat bearish and confined price prediction, there is still room for traders to make some solid profits in the short-term.
Making a move at this point would definitely be premature though, so we’ll go ahead and reserve any price ideas for the time being.
Disclaimer: Nothing written about should be construed, perceived or accepted as financial advice. This is not written in advocacy of any personal finance strategies. The information above is simply an idea being promoted as an example of how one can form their own independent trading strategies. Whether the author has designated that they would place a long or short position or abstained from trading is solely their own prerogative; it is not meant to sway your own personal investment strategy.
Thus, everything written above is merely an opinion of the author/curator.
Your decisions are your own and the author assumes zero liability for the outcome of those decisions. The author has zero conflicts of interest currently to disclose and is not currently invested in the cryptocurrency described above or any other rival currencies at this point in time in accordance with SEC regulations and guidelines.