Technical Analysis ETH 27/94/2018: The sellers can overcome the buyers?


ETH price is still on a strong uptrend

Regarded chart D1, the pair ETHUSD is struggling to cross above the key level. Since the strong 3rd Elliott Correction Wave ended with the lower low wave formed in MACD indicator, the price is now moving in the 4th Elliott Impulsive Pattern. We have not seen any signs of the end of the bullish trend from chart D1. We should take a look at chart H4 to see the cryptocurrency price movement in the next sessions.

ETHUSD 27042018

The uptrend seems to be strong when the price keeps moving above the bullish trendline (marked with the green trendline). The recent declining direction might be caused by the investors’ fear over the steep downtrend of bitcoin price. However, the buying force of the ETH is still strong when the price has soon been lifted up to nearly the resistance zone yesterday. We could expect the ETH price to reach the level of 850 in the upcoming week.

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