It was quite nice to see that the eyes of inventors are back on Ether. For some unclear reason, Ether was completely neglected by the market, which pushed coin all the way down to $1.0 support, during the latest period. It looks like things are changing as investors have moved from strictly macro fundamentals toward actual good developments occurring with Ethereum at this moment. Namely, as it has been announced by Ethereum Foundation, fork will be released on September 19th, and will bring for Ether an efficient proof-of-work which will consume significantly less energy.
ETH started this week by testing one more time support line at $1.0K. Without strength to break it, the coin reverted to the upside, and moved toward the short term resistance line at $1.2K. As this line was also broken, the next stop for ETH was long term resistance at $1.4K. ETH is ending the week modestly below this level. Relative Strength Index broke level of 50 and stopped around 58, implying that market will certainly look for an overbought side in the coming period. Moving averages of 50 and 200 days continue their modest divergence from each other, indicating that potential cross is not in store for this coin in the coming period.
Current charts are suggesting that ETH will start week ahead by testing the resistance line at $1.4K. Current, relatively lower trading volumes are modestly decreasing probability that this line can be broken to the upside. If, by chance, this occurs, then the coin will certainly head toward $1.520 next resistance. On the opposite side, there is a probability for ETH to test the support line at $1.2K.
ETH started this week by testing one more time support line at $1.0K. Without strength to break it, the coin reverted to the upside, and moved toward the short term resistance line at $1.2K. As this line was also broken, the next stop for ETH was long term resistance at $1.4K. ETH is ending the week modestly below this level. Relative Strength Index broke level of 50 and stopped around 58, implying that market will certainly look for an overbought side in the coming period. Moving averages of 50 and 200 days continue their modest divergence from each other, indicating that potential cross is not in store for this coin in the coming period.
Current charts are suggesting that ETH will start week ahead by testing the resistance line at $1.4K. Current, relatively lower trading volumes are modestly decreasing probability that this line can be broken to the upside. If, by chance, this occurs, then the coin will certainly head toward $1.520 next resistance. On the opposite side, there is a probability for ETH to test the support line at $1.2K.
