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Ethereum (ETH) Price Analysis — Struggling to Fix Above $175

Sun, 10/06/2019 - 09:35
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Denys Serhiichuk
Any chances for Ethereum to rise in a short-term scenario ?
Ethereum (ETH) Price Analysis — Struggling to Fix Above $175
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The cryptocurrency market has not shown significant changes over the weekend, the rates of the top coins have almost unchanged. However, the total market capitalization has declined and now makes up $216 Bln.

Top 10 coins
Top 10 coins by Coinstats

Ethereum is showing a relatively more confident dynamics, with a favorable external background; it can be considered as one of the main coins in the portfolio amid a shortage of trading ideas in other assets.



Market Cap


Volume (24h)

Change (24h)



$19 041 254 651


$5 986 339 065


ETH/USD: Charts are Pointing at a Further Decline

ETH/USD quotes remain below the resistance level. Moreover, the price pushed off from moving averages, indicating downward momentum.

ETH/USD 1-day chart
ETH/USD chart by TradingView

As a medium-term trading idea, one should expect a test of the broken border of the upward channel at the level of $193, then a continued decline and a test of the support area at $140. The values of the RSI indicator also support the ongoing decline. There is an assumption that the “Head and Shoulders” pattern is being formed on the indicator, in this case, a downward trend is about to be continued. 

ETH/USD 4-hour chart
ETH/USD chart by TradingView

On the 4H chart, the leading altcoin is moving within the descending channel. A downward model “Flag” is being formed, which indicates a potential continuation of the fall with the first target at $140. Confirmation of the decline will be a breakdown of the lower border of the “Flag” model with fixing quotes below the level of $150.

Top 3 Price Prediction: BTC And XRP Are in Range, ETH Looks Promising

Ethereum is trading at $173,82 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at