Coin Zone Trend: This Week’s Big Data on Ethereum Price Trends (2017-08-01)

ETH Weekly Report | Ethereum shows initial signs of stopping the decline, you can intervene with a light position
1. Market highlights <br/>Current Ethereum price: 1494
Volatility last week: 0.89%
Operation suggestion: The decline has initially stopped, so try to test the water with a light position

2. Detailed explanation of the trend <br/>After the price of Ethereum was cut in half, it showed signs of stopping the decline. You can participate with a light position.
In the 4-hour chart, the price of Ethereum has broken through the downward sloping resistance line, and the bottom of the retracement on July 29 is significantly higher than that on July 16, forming a preliminary signal of a rebound. The short-term resistance level is at 1630.
In addition, the bulls are breaking through the resistance of the previous trading concentration area. It is expected that the bulls will need more time to accumulate momentum and increase their positions appropriately after the price breaks through the previous high. In addition, if the price falls below the upward sloping support line with large volume, short-term funds should stop loss and exit.

The weekly chart shows that the price of Ethereum has fallen to near MA20 for five consecutive weeks, and then a positive line with a long shadow and a short body appeared. Judging from the current trend, the price of Ethereum may stop falling near MA20 and fluctuate upward. Of course, the bulls should release considerable trading volume when attacking upward.
Overall, the short-term rebound pattern is obvious, and the weekly chart has initially shown a stop-loss signal, indicating that the market still needs to fluctuate up and down to digest negative emotions. Aggressive investors can intervene with a light position to gain short-term profits. For conservative investors, they can wait until the daily chart has a large volume and then appropriately build a position to enter the market.