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Charles Bronson

Difficulty bomb pushes course

The price has fallen steadily over the week, has tested the EMA100 twice and is currently at 0.038 BTC (41.87 EUR).

Summary of the results
The price has fallen over the week.
On April 5th and currently on April 8th the price tested the EMA100.
Since tonight the price is rising and is currently at 0.038 BTC (41.87 EUR).
Ethereum is not really doing well at the moment: the price has fallen over the week. The Difficulty bomb seems to deter investors. On April 2nd, the bearish crossover between EMA100 and EMA200 feared last week occurred. Admittedly, it has been rising since last night, but whether this will break through the existing downtrend will be seen in the next few days. In the end we already had such a development on April 5th – but unfortunately it didn’t work out there to overcome the resistance described by the EMA100. Will this work in the recapitulation?

The MACD (second panel from above) is currently positive, even more: the MACD line (blue) is above the signal (orange). According to the MACD, everything looks bullish.

With 55 the RSI (third panel from above) reinforces this bullish picture.

The Chaikin oscillator (lower panel) is positive and completes this picture. However, it should be noted that it is really just above zero.

Thus, the 60min chart looks bullish from the price development. We will have to see whether the price can break through the EMA100 – or bounce back at this currently most important resistance. According to the indicators, however, there is reason to hope for a breakthrough.

The long-term price trend
Let’s start with the 240min chart:

The 240min chart shows that there has been a downtrend since the end of March. Meanwhile, the support described by the EMA100 has been breached and the support described by the EMA200 has been tested. The indicators are bearish to mixed: The MACD is below zero, but the MACD line is above the signal since recently. The RSI is slightly bearish at 49. Finally, the Chaikin oscillator is negative and completes this bearish picture.

Let’s look at the bullish 1D chart at the end of the day:

The MACD is positive, but the MACD line dropped below the signal. The RSI has dropped further and is currently at 50 – and doesn’t say anything. The Chaikin oscillator is negative after all.

We will have to wait and see how the price behaves on the EMA100 of the 60min chart. Should the price bounce there again, the support described by the EMA200 on the 240min chart would be breached – which would further confirm the bearish medium-term picture. Conversely, a breach of the EMA100 on the 60min chart would also strengthen the price’s position above the support described on the EMA200.