Another Setback Expected By Investing.com


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Investing.com – The cryptocurrency () recovered some of its initial losses on Monday. According to data from Investing.com, the digital currency was last seen at $3,007.12, down 1.25% in the last 24 hours of trading. Over the past 52 weeks, the cybercurrency has ranged from $1,719.48 to $4,864.13.

The following article discusses technical analysis. Technical analysis, also known as chart analysis, attempts to determine attractive buy or sell times from the price history of the underlying asset – in this case for the cryptocurrency Ethereum (ETH/ USD).

In this chart analysis, the editors of Investing.com use moving averages and technical indicators to assess both the 5-hour and daily charts of the cryptocurrency ETH. These results ultimately lead to an overall technical score for the digital currency.

Ethereum (ETH/USD) on the 5 hour chart

Moving averages: Moving averages smooth out the price, making it easier to see the general direction of the trend in the given time frame.

Regarding the cryptocurrency Ethereum (ETH/USD), five of the moving averages analyzed are “buy” and 7 are “sell”. This gives the digital currency a “Sell” rating.

Technical indicators: Technical indicators focus on analyzing historical price data using mathematical formulas and not on fundamental framework conditions. Technical indicators are used by professional traders to forecast short-term price movements to determine when to buy or sell. Examples of common technical indicators are Relative Strength Index, Stochastic, MACD, ATR, ADX, CCI, ROC Bulls/Bear.

Of the 10 technical indicators analyzed, two point to “buy”, 4 to “neutral” and 4 to “sell”. As a result, Investing.com editors determined a “sell” rating.

By evaluating moving averages and technical indicators, Investing.com achieves an overall score of “Sell” on the 5-hour chart.

Ethereum (ETH/USD) on the daily chart

On the daily chart, two of the observed moving averages point to buying and 10 to selling. This gives the token a “strong sell” rating.

Of the 9 technical indicators analyzed, 1 point to “buy”, 1 to “neutral”, 7 to “sell”. A “strong sell” rating can be derived from this.

By evaluating moving averages and technical indicators, Investing.com arrives at an overall score of “Sell Strong” on the daily chart.

Conclusion

The multi-level analysis process conducted by Investing.com resulted in an overall composite result for the Ethereum (ETH/USD) cryptocurrency of “Sell Strong”.

  • Relevant materials: 2,954.52 (S1 daily), 2,919.86 (S2 daily), 2,856.55 (S3 daily)
  • Relevant resistances: 3,215.84 (20-day moving average), 3,493.37 (200-day moving average)

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