Coin Zone Trends: This Week’s Big Data on Ethereum Price Trends (2017-06-12)

ETH Weekly Report | Bullish break through the 2,000 mark, the upward trend will continue
1. Market highlights <br/>Current Ethereum price: 2509
Volatility last week: 50.56%
Operation suggestion: Buy on dips
2. Trend Analysis <br/>Last week, the price of Ethereum climbed again, breaking through the 2,000 RMB mark for the first time. As the price rises again, there is a need for adjustment in the short term, and investors can buy on dips and hold for the long term.
Looking at the daily chart, the moving average system (5, 10, 20) still shows a strong bullish arrangement, and the MACD indicator is running above the zero axis, indicating that the lowest support level is constantly moving upward. Both the stochastic indicator and the strength index are diverging, and there may be a period of adjustment in the near future. In addition, the transaction volume of Ethereum is no longer shrinking, and the resistance to price sliding has decreased.
Looking at the weekly chart, the moving average system shows a strong bullish arrangement, and the MACD indicator still has a northward extension. From this level of chart, we can see that the price of Ethereum has closed positive for 10 consecutive weeks, and the deviation rate of the moving average system is still large. Be careful of the price falling back to the 5-day moving average.
Overall, the price of Ethereum is still in the super bull market channel. As the price continues to soar, the market has a more objective understanding of Ethereum, the decline expectations are gradually weakened, and the intermediate correction will be pushed back. Long-term investors can hold positions, and short-term investors should pay close attention to market dynamics and set stop-loss points.