CryptoAngels

Detailed analysis #ETH on 30.07.2018

BINANCE:ETHUSDT   Ethereum / TetherUS
News analysis
It has been exactly 3 years since Ethereum was released. And yesterday there was a warning on official ETH page that “Ethereum Funds Recovery for ETH Losers” is a scam. Users get emails saying that their wallets were under phishing attack or damaged by some malware and their funds were lost. To recover their Eths users are asked to send lots of private information that`s enough to access wallet and withdraw all money. But because of many grammar and spelling errors in the letter many people realized that it is no more than a scam. Follow the link for more: https://bitcoinexchangeguide.com/official-ethereum-twitter-handle-warns-users-of-eth-funds-recovery-scam/.

Volume analysis
Trading volume decreased. On red candlesticks the volume is bigger than on green ones. This can mean that many investors are closing their positions.

Support/Resistance Level Analysis
Timeframe: 1H
The rate had been moving between resistance level at $467 (red) and support at $463 (blue) before breaking through the support and going below $463. Other support levels are at $461, $459, and $457 (green).

Timeframe: 1D
The rate range is getting smaller. Support is at $450 (green), resistance is at $480 (red).

Indicator Analysis
Timeframe: 1H
Bollinger Bands became wider, the rate is moving in its bottom half.
The price is below the Ichimoku cloud .
RSI is below the 40% mark.
These indicators demonstrate bearish trend of the market.
Timeframe: 1D
On daily timeframes symmetrical triangle is almost formed.
Bollinger Bands are narrow, the rate is moving near its middle line.
RSI is moving near 50% mark
Such results prove that the market is flat.

Action Plan
When the triangle is formed, price drop to $400 is possible. Both on hour and daily timeframes the beginning of bearish trend is noticeable. It is better to close positions for now. Ethereum market is not good for entering now.

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