Ethereum - What Should You Know About This Market

Yesterday we talked about Bitcoin and possible bullish signals. This time I would like to offer you a discussion for Ethereum. The market looks interesting from Technical and Fundamental points of view.

Ethereum Constantinople Hard Fork will be able to support the market and increase the demand for the coin. We should consider this fact when we think about buying ETH based on the current levels. These levels can be good for investing in the long run based on Fundamental Analysis.

If we talk about signals providing by Technical tools, the market also looks rather attractive in the long run. The price reversed from 80.00 level, and it was the bouncing from the bottom. We got a bullish divergence - a trend reversal signal. We could see an unsuccessful attempt to break SMA100 which could confirm the trend reversal. After that, the price dropped, but the market was stopped and reversed from 100.00 level. We got two higher swing lows which can be used for drawing the uptrend line. It was the 1st signal telling us about starting a new uptrend. When the price broke SMA100, we got a confirmation that the bearish period was over. The price moved higher and reached 150.00 resistance level. It's the right time to think about possible market movements.

Now we have a resistance zone formed by 160.00 and 150.00 levels which can stop the upward movement and be a starting point for a correction movement. The small bearish candle which was formed yesterday and the small bullish candle which can be formed today, they tell us about possible bouncing from this zone. Just compare the candles when the price reached 160.00 level. We can get the same pattern with further downward movement. If so, it will be good and logical in the bullish structure. We should expect for the falling to the uptrend line, which will be used for buying based on reversal signals.

If we look at the indicators, we will see the following signals:
- RSI reached the overbought zone, and it can confirm the price reversal from the resistance zone
- MACD lines and histogram supports the upward movement
- DMI is bullish and confirms trend market conditions.

We have the good signals confirming that the market becomes bullish and we should expect further development of the uptrend.

Long positions can be opened based on the breakouts above the resistance zone and 160.00 level and based on the reversal signals from the uptrend line.
In order to get confirmation that bears still have power in this market, the price will have to break the uptrend line and move below 100.00 level.

If you have you opinion about this market, you are welcome to share it in comments! Let's discuss! also, I will be very grateful for supporting my work by your LIKEs.