Ethereum Price Analysis and Prediction For September 9th 2019 – Bear Trap Successful

After bottoming out at $168 final week, Ethereum worth shortly rebounded and peaked at $184. After buying and selling sideways for a day and testing the $180 help, ETH/USD performed a bear lure by dipping to $176 then shortly rebounding to $180. Let’s check out immediately’s Ethereum information and see if the charts inform us something.

Ethereum Information

In the case of Ethereum information, there are not any large developments immediately. The Ethereum neighborhood is gearing up for the ETH 2.zero community replace and will showcase a few of its potential at Devcon in Germany November 19th-20th. The Ethereum Basis put out a developer expertise survey which you’ll be able to partake in regardless in the event you’re a developer or not.

Ethereum has been battling community congestion for fairly a while now and if ETH 2.zero can clear up the scalability subject, that can be an enormous step for Ethereum and dApps operating on the community. Furthermore, I wouldn’t be shocked if Ethereum’s worth skyrockets as soon as the improve totally launches.

Ethereum Price Analysis

 

Relative Energy Index: The RSI is presently at 59 factors. It not too long ago peaked at 65 which was a results of the rebound from the bear lure. At this level, the RSI will attempt to keep inside vary as we’ve seen beforehand. On the identical time for the reason that RSI is leaning on the excessive facet, the market has loads of power to make one other transfer.

Bollinger Bands: The worth is presently above the higher band. Because of this the market will attempt to retrace within the subsequent few hours. If that doesn’t occur, the deviation of the bands will improve, inflicting the worth to fall inside vary. It’s actually only a sport of cat and mouse.

Quantity: There’s a first rate quantity of buying and selling quantity on the time of writing. With the bear lure behind us I’d anticipate the quantity to lower. Nevertheless, take into account that a brand new week is beginning and if Bitcoin makes any sudden strikes, quantity will improve.

Ethereum Price Prediction

In my earlier Ethereum worth prediction, I discussed how ETH/USD will proceed buying and selling sideways however would possibly check $180 a couple of extra occasions.

“My prediction is that Ethereum will try to carry the present help on the $178 degree. ETH/USD would possibly contact $180 a couple of extra occasions, nevertheless it’s going to be exhausting to determine help at that degree.”

It seems to be like ETH solely touched $180 as soon as nevertheless it did have a tough time holding that help. Ethereum appears to love the $170 degree which is the place it is going to keep except Bitcoin makes any sudden strikes.

My prediction is that Ethereum will proceed to commerce sideways till Bitcoin wakes up. We’ve a brand new week forward of us and crypto markets are ripe, I predict a minimum of a 10% transfer within the subsequent week.

Ethereum Charts By Tradingview


Disclaimer: This isn’t buying and selling or funding recommendation. The above article is for leisure and training functions solely. Please do your individual analysis earlier than buying or investing into any cryptocurrency or digital forex.

About Tom Greenly

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