Ethereum not Doing too bad after Recent Crash

October 1, 2019 By: Lorenzo Stroe

Ethereum has been one of the few cryptocurrencies to see a pretty good bounce. In fact, Ethereum was already trading at around $163 weeks before the crash which took Ethereum as low as $152, not that far away.

Even without the bounce, Ethereum was already trading above the $163 level on the next day of the crash. The bulls, however, have been able to bounce back with a 22% increase in price.

The daily chart is actually in a nice uptrend now although the bulls have just been rejected from the 26 and 12-period EMA’s. The RSI is still pretty low which means the bulls still have a lot of room for further growth.

The 4-hour chart is also in favor of the bulls holding the 26-period EMA and looking to set a higher low to continue the uptrend. The hourly chart is showing a lack of strength for the bulls though. The last 19 hours have been bearish with the EMA’s crossing bearish and the price trading below them.

The weekly chart hasn’t changed much as the bulls were not able to set a higher low after the crash. Similarly, the monthly chart is still pretty much in the same state as before. The bulls do have an advantage on this timeframe as they seem to be able to set a higher low compared to $80.60.

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