ETHUSD - 1D Chart Analysis
Following the aggressive movements when the whole market has dropped, the price of Ethereum has started it's sideways movements since the 23rd of November.
The Pivot Level (or the average price) for this interval is 116.88 and at this stage the coin is traded nearly below it.
Considering the RSI's level of 29 (oversold), the Stockastic's crossover below the level of 20 and the MACD which has just crossed the Signal, it is possible to see the price having a slight increase at least above the Pivot with a possible target price of 13.73$ in extension.
But the expectations shouldn't be that high as long as the trading volumes are quite low and a 19$ movement of the price was not registered since the 25th of November.
The Pivot Level (or the average price) for this interval is 116.88 and at this stage the coin is traded nearly below it.
Considering the RSI's level of 29 (oversold), the Stockastic's crossover below the level of 20 and the MACD which has just crossed the Signal, it is possible to see the price having a slight increase at least above the Pivot with a possible target price of 13.73$ in extension.
But the expectations shouldn't be that high as long as the trading volumes are quite low and a 19$ movement of the price was not registered since the 25th of November.
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