Aeternity / USD Short-term price analysis
Aeternity has a bullish short-term trading outlook, with the cryptocurrency spiking towards the current 2019 price high.
The four-hour time frame shows that an inverted head and shoulders pattern has now formed, with the AE / USD pair reversing sharply from neckline resistance.
Technical indicators on the four-hour time...
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AE coin has dropped significantly in relation to its highs. After having been listed on Binance, AE was launched by the market churn to its highs first and then to the record low levels in its history. As a result, its drop from the highs amounted x24 in relation to USD, and x7 in relation to BTC. The fall is partly attributed to...
The 100-day moving average has been acting as resistance for AEUSD over the past two weeks. It has now established 4-hour support at 1.25 which was previously resistance. Volume has also increased on rallies indicating the next move may breach resistance leading to a stronger rally.
AEUSD (Aeternity) has had a strong run over the past month. It recently crossed its 50-day moving average, and 1.25 which was previously resistance is now support on the 4-hour chart. Next hurdle is 1.35 where recent highs correspond to the 100-day moving average.
The EMAs and RSI show the price are about recovering from the recent downtrend, for that reason I predict a future ris in price till at least the 2nd of August. The Stop Loss is placed just below the Support at par with the Fib 0&, which I think is really unfavorable The Target Price is just bove the Fib 23%.
