Ethereum (ETH), IOTA (MIOTA) and Ripple (XRP) shift into reverse gear and form new weekly lows.
Ether course can not overcome the $ 393.
Bullish target price remains at $ 439.
Below 318 US dollars, a correction to 289 US dollars threatens
After a recovery to the resistance at 393 US dollars, the ether price falls again to the major support at 318 US dollars. Although the rate can currently stabilize in the area of 340 US dollars, Ethereum still shows a loss of 13 percentage points in a weekly comparison. Crypto Trader scam is thus trading just above the moving average of the last 100 days (EMA100) (yellow).
As long as the bulls cannot push the ether price back above the resistance at $ 363 (EMA20) (red), the downside risks will prevail. Only when the price can stabilize above this chart mark, there are renewed opportunities to rise towards the high at 393 US dollars. If this mark is also overcome by the daily closing price, the resistance at 409 US dollars comes back into focus.
If the 409 US dollar is also broken through dynamically, the chart will brighten significantly and a renewed rise to 440 US dollars is likely. If investors can subsequently overcome this important resist, a bullish follow-up movement up to the annual high of 489 US dollars is conceivable in the coming weeks. In order to also head for the medium-term price target of 515 US dollars, a resumption of the bullish rally in the overall market is required. In order to give the ether price new momentum, Bitcoin should rise again towards $ 12,000.
Bearishe Variante (Ethereum)
The bears were able to push the ether price towards USD 318 again this week, but failed to drop the price below this key support. Only when the USD 318 is broken dynamically does the probability of the correction widening increase significantly. A break of $ 318 on a daily basis activates price targets in the range of $ 289 to $ 284. A war of direction in this area will decide the course of Ethereum for the coming period. Only a clear break in the pink support area from the old annual high and EMA200 (blue) opens up further opportunities for the bear camp. The result would be a slide up to 277 US dollars and especially 252 US dollars. A sustained weakness in the market as a whole should then correct the ether price to around 234 US dollars.