Ethereum (ETH and ETC) Price Trends (Week of October 10th)
Ethereum’s price is heading down. The short-term downward trend, which has held for almost the entire week, has reached a key level. It is time for a natural upward movement. ETH/USD. Last Tuesday, the advantage was held by the bears. Ether’s price has begun confidently forming a downward trend, never once breaking its structure. However, in order to continue its fall, the price has to break through a serious resistance line, which it has approached closely. Usually, an opposing force appears in such points, in the form of bulls, and the downward trend is followed by at least a rebound.....
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Speculation by big bulls has provoked Ether’s growth. The structure of the upward movement is forming a long-term turning wave. The probability of growth towards $20 is increasing. ETH/USD. After ETH fortified near $8, a turning wave and a powerful upward impulse have followed. There was a resistance in the way of Ether’s price, in the form of a large concentration of sell orders beyond the peak of the upward structure, at the level of $9. As we have mentioned several times already, when a big player appears on the market the price usually breaks through a key level without fortifying at....