Ethereum has a negative-to-neutral outlook as it continues on its . Bulls will need to work hard on this pair.
- Ethereum has a neutral short-term trading bias, with the ETH / USD pair testing back towards its 200-period moving average on the four-hour time frame
ETH still retains its medium-term trading bias
Buyers now need to move price above the April trading high or ETH / USD could come under downside pressure
ETH has a neutral short-term trading bias, with the cryptocurrency falling back towards its 200-period moving average on the four-hour time frame.
The four-hour time frame continues to show a valid pattern, with bulls failing to negate the during the latest rally in the ETH / USD pair.
Technical indicators have turned on the four-hour time frame and are currently generating sell signals.
Traders should note that a inverted pattern will form on the four-hour time frame if the ETH / USD pair advances towards its current yearly trading high.
The indicator on the four-hour time frame has also turned and shows scope for further downside.
The indicator on the four-hour time frame has turned , with the signal line now issuing a sell signal.
Ethereum / USD Medium-term price analysis
ETH retains a medium-term bias, with the ETH / USD pair still trading well above its key 200-day moving average.
The daily time frame is showing a small inverted pattern in play, while an even larger inverted pattern could take shape if the ETH / USD pair moves above the $200.00 level.
Technical indicators on the daily time frame currently have a slight bias, although downside pressures are building.
Traders should note that critical weekly support for the ETH / USD pair is currently located at the $150.00 level.
The Indicator on the daily time frame remains , although downside pressures are building.
The indicator on the daily time frame is neutral, with the histogram and the signal line failing to issue clear trading signals.
ETH is coming under downside pressure in the near-term after bulls failed to rally the ETH / USD pair to a fresh 2019 trading high during last week rally.
Bulls must start to make new higher price highs and force the cryptocurrency above the $200.00 level or the on the four-hour time frame could soon be triggered into action.
Thus, the right to regulate the ethereal market for the CFTC will be enshrined in legal terms, since now only coercive instruments exist. In addition, trading in non-deliverable ethereum futures is an opportunity for institutionalists to trade ether safely and according to understandable regulated rules.
Many experts believe that allowing CFTC to trade in ethereal futures will have a positive effect on the fate of cryptocurrency ETFs. Perhaps the Securities Commission (SEC) will still issue a permit to organize funds in the near future.
Recall that last December, the CFTC began collecting information about Ethereum technology and its application possibilities. The ministry said they intend to study in detail the collected data in order to develop a regulatory framework for regulating the ethereum market.
Coin Center, Blockchain LLC, Circle, Coinbase, ErisX and even odious Craig Wright provided information for the commission. The start of trading in non-deliverable futures took place in December 2017 on the two main exchanges in Chicago: option CBOE) and commodity (CME). Despite this, the Bakkt from Intercontinental Exchange (ICE) platform, which should be running trading in deliverable bitcoin futures, has still not received permission to open trades.