ETH course analysis KW20 – And on we go in the Upward Channel!

After a slight fall to BTC 0.047 (EUR 83.80), the price rose to BTC 0.064 (EUR 114.12), but is currently consolidating and stands at BTC 0.061 (EUR 108.77).

Summary

After a hesitant start, the price first fell under EMA24 and EMA48 to 0.047 BTC (83.80 EUR).
However, the Ether price recovered and rose to a new all-time high of 0.064 BTC (114.12 EUR).
In the course of a consolidation, the share price is now at 0.061 BTC (108.77 EUR).
Wow! Not only Bitcoin! Not only Bitcoin, but also Ethereum is experiencing new highs – the price has risen above the 100 EUR mark for the first time.

After the price tested the EMA48 on May 18th and 19th there was no hold on the price and it rose to a new all-time high of 0.064 BTC (114.12 EUR) within a very short time. Certainly the latest ICOs have had their influence here. However, Ethereum is currently taking a slight breather – and is testing the support described by EMA24. It remains to be seen how the price of this support will behave.

The MACD (second panel from above) is still above zero. But beware: since today the MACD line (blue) is below the signal (orange) and is moving towards zero. In this respect, the MACD threatens to send a bearish signal.

At 48, the RSI (third panel from above) confirms this bearish picture

The 60min chart therefore looks bearish from the price development. It will have to be shown how the price behaves to the support described by EMA24, should it hold, a stable rise could occur. Whether there is another reason for this hope should be discussed when looking at the medium- and long-term price developments.

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