- The market is between the $ 800 distribution area and the $ 600 accumulation area.
- The bears may have potency to propel the market to $ 500 accumulation soils.
- The data show that the decline in Ethereum will be short lived.
Data show that the decline in Ethereum is managed by bears
The long term trend of the ETH / USD is: Month
Distribution $ 500, $ 400, $ 300
The ETH / USD parity witnessed a large bull candle and reached the $ 800 distribution territory until April 12th. Since May 6, the bears have been fighting a bit stronger against the bull. At the time of writing, Ethereum is worth $ 800 in market value and $ 600 in savings.
Parity is being traded under 13 day SMA. The 50-day SMA is moving strongly toward the north. The stochastic oscillators passed under 80 and moved.
Bulls are trying to increase upward movements in the price of Ethereum
However, some indicators show that the bulls are now picking up catalysts to increase their uptake. The bears may have the potential to propel the market towards the $ 500 accumulation soils, but they can not do that for long.
According to analysts, investors are advised to be in any reversal tendency to enter the current trend market. In addition, according to analysts, investors may go to long trades in the $ 800 distribution territory when the trend reverses.
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