Coin Zone Trends: This Week’s Big Data on Ethereum Price Trends (2017-05-22)

ETH Weekly Report | Ethereum is soaring, breaking the 1,000 yuan mark for the first time
1. Market highlights <br/>Current Ethereum price: 1087
Volatility last week: 69.58%
Operation suggestions: Long-term positions can be held unchanged, and short-term positions can be gradually divided to lock in profits
2. Trend Analysis <br/>Last week, the price of Ethereum started to rise, breaking through the 1,000 RMB mark in one fell swoop, and there has been no sign of a significant increase so far. As analyzed last week, although the price fell into adjustment after the daily chart reported a cross star, the price center of gravity continued to move upward, and it is likely to break through the pressure line upward. At present, the price of Ethereum above the daily level does not show any signs of a trend reversal. In the long run, the bull market may continue.
Looking at the daily chart, the moving average system (5, 10, 20) still shows a strong bullish arrangement, the MACD indicator is running in a strong area, and the green column area is expanding, and there is no top divergence, indicating that the long momentum is strong and the bottom support level is constantly rising. However, both the stochastic indicator and the strength index show signs of being blunted in the overbought area, and the price is far away from the moving average system, and the possibility of a short-term adjustment in the short term is increasing.
Looking at the weekly chart, we can see more directly how strong the price surge is from this level of chart. The moving average system shows a forced bullish pattern arrangement, and the MACD indicator does not have a top divergence phenomenon. It is just that the volume of this new high is slightly less than that in March. In addition, the price is very far from the moving average system, and adjustments may occur at any time, but there is no sign that the trend will change fundamentally.
Overall, it is clear that the price of Ethereum is still in the super bull market channel. After rising high, the bulls may slow down the pace of attack to accumulate strength for further rise. For long-term investors, they can continue to hold positions, and short-term investors can gradually lock in profits and reduce the risk exposure of funds.
Disclaimer: Data and analysis are from Biqushi (www.biqushi.cn) and sosobtc (k.sosobtc.com).