Sunday, September 16, 2018

Trading volumes on Ethereum rose to an annual maximum. When will the rate begin to rise?

Yesterday, Ethereum daily trading volume reached its maximum value in the last 12 months. In 24 hours, the total amount of traders ' transactions amounted to 850 000 ETH-the last time this happened on September 15, 2017. The situation with trading Ethereum analyzed in Coindesk.

A sharp increase in volumes is a sign that market players bought the recent drop in cryptocurrency below $ 200. Technical indicators on almost all time periods indicate a significant weakening of the bearish trend.

Rebound Ethereum has formed a good candlestick pattern to start bullrun. The hammer candle coincided with the bullish divergence on the RSI indicator, which means that the bulls are gradually taking control of the situation.

The main resistance level is now a 10-day moving average line. If it stops the price growth, a new fall in the area of the annual minimum is not ruled out.

The overall picture on the weekly chart looks quite favorable. Trading volumes this week equaled the December record, when the entire crypto market approached the peak of the previous bullish trend.

At the moment, it is quite possible to expect the growth of the asset to $ 250. If the Ethereum still drops below $ 200, a new wave of draining may begin.

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