The Growth of Ethereum Was Resumed

Technical indicators:
  • Market Cap, billion: $43.96
  • % chg. over the week: +10.56
  • 52 wk range: 201 - 519.23

Since the beginning of this year, Ethereum capitalization has grown by 60 times. At the moment, the figure has approached the $44 billion mark. This growth is caused by the popularization and development of the cryptocurrency market. Additional support is provided by the developers of Ethereum, who implement and develop new technologies. Demand for digital currencies remains at a very high level.

The current technical pattern on ETH/USD
  • Support levels: 400.00, 350.00, 300.00
  • Resistance levels: 460.00, 490.00
ETH/USD

On Thursday, November 30, the ETH/USD quotes kept 50.0% correction zone. At the moment, the bullish sentiment prevails. The price is testing the local resistance of 460.00. Ethereum has the potential for further growth. In the near future, we recommend considering buying ETH/USD.

The indicators point to the power of buyers. The price has fixed above 50 MA and 200 MA.

The MACD histogram has begun to rise, which also signals the purchase of ETH/USD.

Trading recommendations

If the price fixes above the local resistance of 460.00, you need to look for entry points to the market to open long positions. The closest target for fixing profits is the mark of 490.00. When following the positions, we recommend using a trailing stop.

by JustForex, 2017.12.01

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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