ETHUSD - 4h Chart Analysis
After the positive evolution between the 27th and the 29th of August, the Bullish trend has been changed and the price has reached the support level of 270.63$.
The Bearish trend was also confirmed by the first full red candlestick which was created between the 20 days Moving Average and the lower band of Bollinger.
With the RSI which is neutral and with the Stochastic indicating an oversold position it is possible to see a short term slow down of the downtrend but, as long as the MACD is below the Signal line, it seems that the most realistic target price on a longer term remains the same level of 270.63$.
The Bearish trend was also confirmed by the first full red candlestick which was created between the 20 days Moving Average and the lower band of Bollinger.
With the RSI which is neutral and with the Stochastic indicating an oversold position it is possible to see a short term slow down of the downtrend but, as long as the MACD is below the Signal line, it seems that the most realistic target price on a longer term remains the same level of 270.63$.
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