Stoploss.ch

Ethereum - a break to the upside

by Tim Straiton
Thursday 29th July 2021

Technical Review of Ethereum as of 7/29/2021

based on daily data
Open 2,294.06
High 2,331.30
Low 2,265.56
Close 2,313.86
200 period moving average: 2,119.46
14 day relative strength index: 61.64

The crypto currency Ethereum is currently trading at 2,313.86 which is 8.40% above its 200 day moving average. Ethereum has finally broken above the upper wedge resistance line at 2150 of the falling wedge pattern which had been forming since the end of May 2021.

This instrument is trading above its daily pivot point of 2,294.05, which is a short term bullish factor. Looking further out, our proprietary medium term trend indicator is bullish. The Directional market index is positive. Significant trend force is detected in this market, therefore opening a position could be justified in the direction of the trend, which points to further upside potential.

Disclaimer

Our opinions are not a recommendation to buy or sell a security. Your decision whether or not to open a
transaction should be based on your own due diligence and not on any representation we make to you.


 

Charts courtesy of