ETH course analysis KW46 - Breakout to new heights?

The Ethereum price has risen steadily this week, reaching a high of $ 307.32 ($ 362.38).

Summary

The Ethereum course has increased during the week.

The short-term Triangle Pattern has now been finally broken.

The short-term support is 287.77 EUR (339.32 USD), the short-term resistance at 307.32 EUR (362, 38 USD).

Finally something happens again at Ethereum! For several weeks the course was very stable. However, this week saw a rally that raised the price to over $ 300 ($ 360) - the first time since September 1. Currently, the price is on a small plateau, which does not jeopardize the fundamental uptrend.

The MACD (second panel) is correspondingly positive for the rally, but the MACD line (blue) is below the signal (orange).

The RSI (third panel) was initially overbought and has recently dropped back to bullish 67.

The moves in the 60min chart speak a bullish language. The week's most important support is described as support for the uptrend and stands at $ 287.77 ($ 339.32). Most important Resistance this week is described by the weekly maximum and is at 307.32 EUR (362, 38 USD).

The long-term price development

To put this rally into the bigger context, let's take a look at the 240min chart first:

Thanks to recent price movements, the Triangle Pattern, which has been following since September, has now been finally abandoned. It was replaced by an upward trend, the very conservative interpretation of which is shown here in blue. The price is well above the exponential moving averages over one (blue) or two (red) weeks.

The MACD is positive, as is the MACD line above the signal. The RSI is overbought at 77. In the medium term, the situation is also bullish. The support is about the same as in the 60min chart; it is also described by the bullish trend and is at 260.57 EUR (307.25 USD). Resistance equals the maximum reached in early September and stands at $ 329.84 ($ 388.93).

To put the developments in a long-term context, we look at the closing on the 1D chart:

We see that even the latest rally still fits in the course of the Triangle Pattern - only now exceptionally, the resistance of the same is tested. The bullish forecasts in the short- and medium-term charts are correspondingly interesting, as it could lead to a test of this resistance.

The MACD is positive, as is the MACD line above the signal. The RSI is bullish at 66.

Overall, the long-term forecast is bullish. Both support and resistance are further described by the Triangle Pattern. Most important support is 252.38 EUR (297.59 USD), the main resistance is 308.63 EUR (363.92 USD).

Disclaimer: The price estimates shown on this page do not constitute buy or sell recommendations. They are merely an assessment of the analyst.