Crypto Screener › Forums › Ethereum (ETH) Forecast – Technical Analysis › Ethereum (ETH) Price Analysis – August & September 2018 › Reply To: Ethereum (ETH) Price Analysis – August & September 2018
After my report last week, the Ethereum market failed to get support in the 0.045 btc range, price action brought us to 0.04 btc where some buyers are stepping in. There is a possible bottom forming here in the market, however we will have to stay above 0.041 btc for this to become a reality. Lets take a look at the 1hr ETHBTC chart.
The market has finally broken out of it shorter term bearish trend, this is confirmed by the momentum indicator as well as the MA cross. I would still be wary of this market and consider most long trades here higher risk, as we are still in the longer term bear trend versus the Bitcoin market.
For the above situation to remain in tact we will need the price action to stay above 0.041 btc on the shorter term, and should this fail to be the case, i would look to another possible short on the market, also higher risk trading in my opinion.
Should 0.04 btc fail to act as our medium term support there will surely be more blood on the market and the possibility for prices to fall even lower.
Should we consolidate and stay above 0.41 btc, you can look towards 0.0415 btc – 0.0416 btc for the next possible breakout in the market. Safe trades.