[Trade Alert] Ethereum Is Now A Buy - Here Is Why! (July 19th 2017)

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Added 4 years ago by intercd

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Hello folks, I have located a buying signal for Ethereum. It has rebounded nicely the last 2 days and it continues to perform well today. In this analysis we will look at 5 things, namely:

Trendline
Bollinger Bands
MACD
Fibonacci Levels
Overall market situation

Ok, so lets dive right into it. In this daily graph we are going to look at Trendline, Bollinger band and MACD:

1. From the graph we can clearly see that Ethereum has penetrated and closed above the falling trendline.

2. Ethereum has also bounced off the lower bollinger band around the price level of 160 USD. Four days ago Ethereum created a nice hammer followed by a large engulfing candlestick.

3. We are right now at a crossover for the MACD as you can see from the graph. It is not 100% clear, but I expect it to clearly cross it today, unless we get a major fall later today.

Alright, lets move over to the fibonacci level. This is from Poloniex:

4. From this graph you can see that Ethereum has found support from the 23,6% fibonacci level and it is now heading towards the 50% level which is around 250 USD.

Finally, from this graph we can see the overall crypto market:

5. Here we can see that the overall market has turned from the 66 Billion mark and has now created a V-shaped bottom and is now hovering around 86 Billion USD.

Thats it folks, if you want to buy Ethereum you can do that here:

https://bittrex.com/Market/Index?MarketName=BTC-ETH

Sources:

https://www.tradingview.com/chart/AxIWekrr/
https://poloniex.com/exchange#usdt_eth
https://coinmarketcap.com/charts/

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