Coin Zone Trends: This Week’s Big Data on Ethereum Price Trends (2017-06-26)

ETH Weekly Report | Multi-party retreat, beware of short-term risks
1. Market highlights <br/>Current Ethereum price: 2130
Volatility last week: -15.16%
Operation suggestion: Reduce positions appropriately to lock in profits.
2. Trend Analysis <br/>Last week, after nearly 5 trading days of flat volume and stagnation at a high level, the long side retreated and the short side took the opportunity to suppress the price. Since the price of Ethereum has not experienced a mid-level correction since this round of bull market, this adjustment may take a long time and the amplitude is relatively large.
Looking at the daily chart, the long arrangement of the moving average system (5, 10, 20) has been destroyed, the MACD indicator has a dead cross and stretches towards the zero axis, and the area of ​​the red column representing the strength of the short side is expanding. The price of the currency at this level is actively bearish, and the support is between 1800 and 1600. In addition, it is worth noting that the price may not fall to the right place at once, because the MACD indicator, stochastic indicator and strength index all show bottom divergence, and the bulls may test the downward momentum.
The analysis in the previous two weeks pointed out that investors should be wary of the current level of currency prices falling back to MA5, because the moving average system is too inclined and the risk is accumulating. At present, the trend of stochastic indicators and strength indicators are both arranged in a short pattern. After the price breaks down MA5, it is very likely to fall to MA10. Investors are advised to lock in some profits and intervene in the market after the market releases risks.
In general, the bulls have lost their absolute leading position in the market trend in the short term. As the profit-taking increases, the desire to cash in profits increases. However, this is not enough to show that the basic trend has reversed. Short-term investors should put risk control first and protect book profits. Long-term investors can appropriately lock in part of the gains, but should not ignore risk prevention strategies.