Ethereum (ETH) Long-term Price Analysis

  • A potential bearish movement may soon occur for Ethereum.
  • Currently the cryptocurrency is trading between the $220 and $180 territories, which could imply a strong price movement may soon come for the crypto.

ETHUSD Long-term Trend – Ranging

Distribution territories: $350, $450, $550.

Accumulation territories: $150, $100, $50.

In the last trading sessions in the month of October, Ethereum’s price was intensely being traded under the 14-day SMA. In a couple of days, although the cryptocurrency featured a set of lower highs, it moved north past its 14-day and 50-day SMA’s trend lines, to approach the $220 territory.

Ethereum, ETHUSD, Cryptocompare chartEthereum Chart by TradingView

Since then it has been trading around said territory and the 50-day SMA’s trend line. The 50-day SMA is above the 14-day one with a small space separating them. The Stochastic Oscillators touched range 80, and now point south towards range 60, which suggests a potential bearish movement may soon occur.

Currently the cryptocurrency is trading between the $220 and $180 territories, which could imply a strong price movement may soon come for the crypto. It would be good to buy ETH when its price dips.

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