EthereumPenjualan
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Ethereum - Pump and dump, or just dump?
Diupdate
Like in the case of Bitcoin, we are also bearish on Ethereum. We will pay close attention to it today as the FED is set to increase interest rates and worsen economic conditions. We expect such action to drag the stock market and cryptocurrencies lower over time. Though we do not rule out an initial bounce up in the price of ETHUSD after the FED decision; however, we do not expect it to last. Due to that, we have no reason to change our bearish bias. Accordingly, we stick to our price targets of 1000 USD and 900 USD.
Illustration 1.01
Illustration 1.01 shows the weekly chart of ETHUSD. It also portrays two simple moving averages, 20-week SMA and 50-week SMA. It can be observed how Ethereum naturally retraced toward its 20-week SMA (which acted as a correction of the downtrend), and now it deviates from it again.
Technical analysis - daily time frame
RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the daily time frame is bearish.
Illustration 1.02
Illustration 1.02 displays the daily chart of ETHUSD, two simple moving averages, and support/resistance levels.
Technical analysis - weekly time frame
RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame is bearish.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Illustration 1.01
Illustration 1.01 shows the weekly chart of ETHUSD. It also portrays two simple moving averages, 20-week SMA and 50-week SMA. It can be observed how Ethereum naturally retraced toward its 20-week SMA (which acted as a correction of the downtrend), and now it deviates from it again.
Technical analysis - daily time frame
RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the daily time frame is bearish.
Illustration 1.02
Illustration 1.02 displays the daily chart of ETHUSD, two simple moving averages, and support/resistance levels.
Technical analysis - weekly time frame
RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame is bearish.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Catatan
Our thoughts were updated in the following post: 
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