IMPORTANT DISCLAIMER

ETH/USD 17.08.2017

After a strong correction in July, right now we are witnessing a new uptrend development, that can turn out to be stronger than the last one. Autumn may bring us positive news about a new version of ETH.

 

Technically, we see:

  • No vivid support zone. The last $235 zone has been left far behind.

  • $325 resistance zone doesn't look strong for now.

  • Points for entry can be found after slight correction. If you see price downfall, and shortly afterwards an increase in volumes and buyers, it’s a favorable pattern for entrance.

  • News background is neutral. Recently, Vitalik Buterin, Ethereum co-founder, has published a paper on smart contracts, proposing a new framework.

 

There are no vivid reasons to sell Ethereum currently. It is very likely that ETH will be above the market in the next several days.

 

If the price follows a negative scenario, one should watch the trend line and volumes around potential entry points. The trend line breakdown is unlikely, thus buys along the line with good stop is the best strategy in case of a negative outcome.

 

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