14th July - Cryptocurrency Price Analysis - Shivkumar
Technical analysis are pointing towards a consolidation. As per past consolidation we have seen a rally after the break of the consolidation period.
If the consolidation moves to the upside, a break above the $10,000–$10,500 resistance is high.
If the don't break and move above as stated, than it shows that the bulls are not in a hurry to move upside.
Technical charts show it will be a upside movement, but its not a guarantee in trading.
On the downside it could be bearish if bear cracks the support at $8,130.58.
ETH is currently trading inside the $216.006–$253.556 range, defending $ 236 , which hints at a possible change in trend.
A breakout of $253.556 will set uptrend that has a target objective of $288.599 and push above this level, a rally to $320 is possible.
Bullish view will be invalid if moves below $ 236.
A break above $0.19 will target $0.214616 will signal strength and increase the possibility of a rally to $0.235688.
If the bears defend the resistance at $0.214616, pair could remain range-bound for a few days.
Bearish below $0.19 pair will indicate weakness.
Bearish below $ 233 if that happens, a drop to the $217.55 levels is possible.
If the bulls can push the price above $ 233 with a target to $245.49, a rally to $260 and then to $280.47 is likely.
Technical shows that the price it at midpoint and there is a balance between bulls and bears.
Disclosure: The author holds no cryptocurrency at the time of writing.Register for Technical news and market update email@example.com || Facebook :- www.facebook.com/shivfxcrypto ||Instagram :- www.instagram.com/shivfxcrypto1 ||Twitter :-www.twitter.com/shivfxcrypto|| Whats App :- +91-70439-12326