Jump to content

Ethereum Technical Analysis for 3/21/16 – Elliot Waves vs Divergence

Started By The Merkle , Mar 21 2016 01:28 AM
ethereum analysis

  • Please log in to reply
No replies to this topic


The Merkle
  • The Merkle
  • News Media
  • PipPip
  • 171 posts
  • 164 topics

After rebounding off the 0.021 level for the second time this month, the ETH/BTC pair is making a steady climb to the 0.025 level.  In our previous Ethereum technical analysis, we discussed how the price would have to break the 0.025 pivot in order to be able to see a rally anywhere near the big pivot at 0.029. Currently, ETH is trading at 0.026, meaning that the market has broken out of the resistance zone and is ready to new heights.


Unfortunately, Ethereum’s market cap has also dropped around 25% in a week, reason being the big selloff from 0.036 all the way down to a low of 0.022 – a 39% price decline. The good news is that there was strong proven support at the 0.022 level both prior and after the major selloff, indicating that the market won’t crash into oblivion.


Read More: http://themerkle.com/ethereum-technical-analysis-for-32116-elliot-waves-vs-divergence/

  • 1

Cryptocointalk.com doesn't endorse any ads. Warning: ads my be illegal or untrustworthy in your jurisdiction. Advertising Here.

0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users