Ethereum price continued rising throughout the past 48 hours exceeding $630 at the time of writing of this analysis. On Monday’s trading sessions, the price of ether rose from a day low of around $600 to a day high of $650, which denotes that the market has been moving by recording higher highs throughout most of the 4 hour trading sessions. The market is still moving according to the uptrend line that has been evident across the 1 day charts since April 7th.
Will ethereum price continue on rising during the next 24-48 hours?
Let’s examine the 1 hour ETHUSD chart from Bitfinex, while plotting the 50 period SMA, the Stochastic oscillator, and the Ichimoku Cloud, as shown on the below chart. We will keep our Fibonacci retracements we plotted last week
that extend between the low recorded on October 23rd, 2017 ($273.50), and the high recorded on January 13th, 2018 ($1,424.06). We can note the following:
Let’s examine the 1 day ETHUSD chart from Bitfinex, while plotting the 100 period SMA (green curve), the 200 period SMA (red curve), and the Williams Alligator indicator, as shown on the below chart. We will also keep the same Fibonacci retracements we plotted above. We can note the following:
Ethereum price continued on rising to record a day high of $650 during the past 24 hours. We can expect ethereum price to soar towards $700 during the next 1-3 days, as per our technical analysis.
Charts from Bitfinex, hosted on Tradingview.com
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