Coin Zone Trends: This Week’s Big Data on Ethereum Price Trends (2017-05-31)

ETH Weekly Report | Good news continues, prices continue to soar
1. Market highlights <br/>Current Ethereum price: 1688
Last week's volatility: 108.04%
Operation suggestion: Hold positions and let profits run
2. Trend Analysis <br/>This week, two major Chinese exchanges (OKcoin and Huobi) successively announced that they would soon list Ethereum. Since then, the price of Ethereum has continued the previous trend and soared again. When the market reports a series of large positive lines, it will fall into a small adjustment and consolidation pattern, and finally the bulls will push up the price again.
Looking at the daily chart, the moving average system (5, 10, 20) still shows a strong bullish arrangement. The MACD indicator refuses to form a dead cross after pulling back in the strong area, indicating that the price of the currency at this level has strong upward momentum. Both the stochastic indicator and the strength index extend southward, and there is a certain demand for sideways trading.
Looking at the weekly chart, although the price once dropped to near MA5 last week, the bulls still maintained a strong upward trend, and the MACD indicator cooperated well, without any divergence. At present, the K line is far away from the moving average system, and both the stochastic indicator and the strength and weakness indicator have a top divergence phenomenon, and there is a need for adjustment in the short term.
Overall, the price of Ethereum is still in the super bull market channel. As more and more investors recognize Ethereum, it is too early to say that it has reached its peak. In the bull market, investors are not recommended to trade in short positions. They should hold positions to enjoy the feast of the bull market and let profits run.