Ethereum Prepares to Growth
Due to the fall of Bitcoin on September 21st, the price of ETH fell by 10%, from $380 to $340. As a result, the price chart went down from the ascending triangle. Yesterday, ETH consolidated near the $340 level, which suggests that the nearest support is currently there.
Stochastic also dropped sharply and reached the overbought line. It follows from this and in the coming days, it may begin its reversal. MACD has slowed down its decline and is now in a zone of uncertainty.
At the same time, the price consolidated below the middle Bollinger band and almost reached the lower band. It also suggests that we should see a breakout to the upside towards the $400 level in the near future.
Based on this, it is a good deal by risk/reward ratio (1to2).
The optimism is added by the fact that rumors about the imminent transition of Ethereum to the PoS algorithm, have again spread in the community. A network upgrade proposal or EIP has already been published, which outlines the technical details. Also, some developers say that the transition may take place earlier than the scheduled date (recall that earlier they talked about November 4th).
Ethereum has great fundamental news and a technical picture of the price. Therefore, we expect a reversal to begin in the coming days and we expect ETH will hit $400.
Stochastic also dropped sharply and reached the overbought line. It follows from this and in the coming days, it may begin its reversal. MACD has slowed down its decline and is now in a zone of uncertainty.
At the same time, the price consolidated below the middle Bollinger band and almost reached the lower band. It also suggests that we should see a breakout to the upside towards the $400 level in the near future.
Based on this, it is a good deal by risk/reward ratio (1to2).
The optimism is added by the fact that rumors about the imminent transition of Ethereum to the PoS algorithm, have again spread in the community. A network upgrade proposal or EIP has already been published, which outlines the technical details. Also, some developers say that the transition may take place earlier than the scheduled date (recall that earlier they talked about November 4th).
Ethereum has great fundamental news and a technical picture of the price. Therefore, we expect a reversal to begin in the coming days and we expect ETH will hit $400.
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