Ethereum (ETH) Price Trends: 5/19/2016 - Cointelegraph

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CointelegraphEcosystemEnglishTRX$0.2891 1.32%XLM$0.1616 0.09%HYPE$29.67 1.06%LINK$8.89 0.80%XRP$1.43 1.00%XMR$325.61 2.43%DOGE$0.09907 0.98%BNB$626.23 0.12%ADA$0.2801 1.52%BCH$564.21 1.00%BTC$68,221 0.64%ETH$1,977 0.52%SOL$85.54 1.32%USDUSDDenis HarrisonWritten by Denis Harrison,Ethereum (ETH) Price Trends: 5/19/2016May 19, 2016

The upward Ethereum trend could soon be over. Ethereum’s price has formed a flat wave, and now a turn to decline is likely to form

Ethereum (ETH) Price Trends: 5/19/2016

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The upward Ethereum trend could soon be over. Ethereum’s price has formed a flat wave, and now a turn to decline is likely to form.

At which point will the upward trend be least likely to continue?

After forming a correction toward the upward trend, Ethereum’s price has rebounded from the $12.5 resistance line, which we have pointed out earlier. But this wave of the trend is likely a short one, because there is a probability that it will turn out to be a wave of a flat.

Ethereum Price Chart

That’s why for the upward trend to continue, it’s necessary for this wave to be a part of that trend. It’s common knowledge that a flat always forms between two key resistance lines. Trying to break through either the top or the bottom limit, the price cannot fortify, and a flat forms as a result. Consequently, we need to find the bottom limit of the potential flat. In order to do that, we need to synthesize several key instruments: the diagonal channel, protecting the structure of the upward trend, the moving average 20, at which the average 5 has fortified earlier, and the accumulated trading volume level. As a result, we could find that all those levels intersect at the level of $13.2.

Ethereum Price Chart

The upward trend will have a chance of continuing if Ethereum’s price fortifies beyond the level of $13.2. Otherwise, at least a flat will start.

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