Ethereum $ETH Price Outlook Jan19: Bullish

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January 19 2019 17:03 UTC

 

Ethereum has gained 2.38% or 2.87 USDT in twenty-four hours. In this Weekend Edition find $ETH price action, trend, technicals and more. Or jump right to the Ethereum $ETH Price Outlook.

 

Price Action

The price of $ETH has risen over twenty-four hours. The last price at press time is 123.68 USDT. In Binance light to moderate volume trading the daily change is 2.38%, or 2.87 USDT:
$ETH Price Change
period % USDT
24 hours 2.38 2.87
7 days 0.27 0.33
1 month 25.27 24.95

Trend

trend is DOWN

The Ethereum monthly trend is down. On January 04 2019 $ETH reached a high of $159.26. It fell on the 9th, 10th and again on the 13th of January bottoming out at $111.87. While seeing a strong upwards swing on the 14th, and down on the 15th, ether has largely traded sideways for the last nine days.

[Trend is "down" when the monthly price movement is predominantly downwards.]

Real Time Market Depth

The real time market depth is bullish.

 

[The real time market depth is a fractional representation of the order book, used to assist in determining market direction.]

Chart

Tap / click to zoom:

eth-usdt-binance-six-hour-candles-2019-01-19

 

Remarks

A buy order at 123.59 in the amount of 1,200 ether – about $150,000 – is currently stimulating the price.

 

Technicals

Moving Average Convergence Divergence (MACD)

The MACD on the one hour chart is strongly bullish. The last sixteen consecutive hourly sessions have all registered bullish.

[MACD is a trend-following momentum indicator]

 

Exponential Moving Averages (EMA)

period average
7 day 134.19
25 day 128.92
99 day 118.15

Seven hours ago – at 01:00 hours Jan 19 – the short term EMA(7) bounced off the medium term EMA(25), rocketed through the long term EMA(99), and is showing a strongly bullish divergence on the hourly chart.

[EMA is a type of moving average that weights recent price fluctuations more, yielding a better short term signal]

 

Relative Strength Index (RSI)

The Relative Strength Index on the one hour chart is 70.2. This is an overbought state.

Ether is in an overbought state and may continue in this way while it enjoys a heated upwards market and price.

[RSI is is a momentum indicator that measures the magnitude of recent price fluctuations to determine an overbought or oversold state]

 

Bitcoin $BTC Price Modifier

The 24 hour Bitcoin $BTC change is 2.91%. This may exert a bullish influence on Ethereum today.

[The bitcoin price modifier reflects the historical correlation between the price of $BTC and altcoins]

 

Ethereum $ETH Price Outlook

bullish

  • the Ethereum $ETH price outlook is bullish
  • if the price finds acceptance at higher levels the major resistance prints at $157 (Jan05)
  • if the price finds acceptance at lower levels the major support prints at $111.87 (Jan13)
Resistance levels: $157 (Jan05) $126

Support levels: $111.87 (Jan13) $114 $120

 

Invalidation: This outlook is no longer valid if the asset has performed outside of its resistance or support levels, or outside of its short term analysis time period.

 

Independent Comparison

Comparing our outlook with independent, automated results from Investing.com shows:

Asset: Ethereum $ETH
Time Period: Daily
Summary: strong sell
Moving Averages: sell
Technical Indicators: strong sell

 

Disclosure

The author does not hold Ethereum $ETH at the time of writing.

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