Coin Zone Trend: This Week’s Big Data on Ethereum Price Trends (2017-08-07)

ETH Weekly | The pace of the uptrend may slow down, but the trend is still upward
1. Market highlights <br/>Current Ethereum price: 1775
Volatility last week: 6.41%
Operation suggestion: Continue to hold positions and let profits run
2. Trend Analysis <br/>Last week's analysis clearly pointed out that the price of Ethereum will still be bullish in the short term, and it is acceptable to participate with a light position. At present, although there are some resistances on the upward side, which slows down the upward pace, the overall upward trend will still be maintained. Looking at the 4-hour chart, since July 29, the peaks and troughs of Ethereum prices have risen significantly in sequence, indicating that the upward trend is still there. However, this does not mean that the price will continue to rise. In fact, after a slight acceleration, the price will fall into adjustment in the short term, and the top divergence of the MACD indicator also proves this. Investors can focus on the upward trend line shown in the figure. If the price falls below the trend line with large volume, they can stop loss and exit.
From the daily chart, the price has broken through the neckline pressure of the double bottom. It is worth noting that the neckline has prevented the price from falling or rising several times, and it is a relatively important price. At the same time, when the price broke through yesterday, it encountered pressure from MA60 and closed with a negative cross star. In the near future, the price may retreat to the neckline and then resume the upward trend.
Overall, the trend is still bullish, but the price will be adjusted in the short term. Therefore, investors who entered the market with reference to last week's analysis can continue to hold their positions. However, if the price falls below the upward trend line in the 4-hour chart with large volume, you should stop profit and exit, and wait for an opportunity to enter the market again in the future.