Ethereum fails at resistance, IOTA and THETA with new highs for the year
The price of Ethereum (ETH) is still unable to break free decisively and is moving sideways. In contrast, IOTA (MIOTA) is able to generate a new high for the year. Meanwhile, the outperformer of recent weeks, Theta Token, is jumping from all-time high to all-time high.
Ethereum (ETH): The directional battle continues
- Price (ETH): 1,632 US dollars (USD) (previous week: 1,808 US dollars)
Resistances/targets: 1,664 USD, 1,733 USD, 1,880 USD, 1,942 USD, 2,038/2,057 USD, 2,811 USD, 3,277 USD, 3,565 USD, 4,315 USD, 5,068 USD
- Supports: 1,591 USD, 1,545 USD, 1,489 USD, 1,425 USD, 1,367 USD, 1,303 USD, 1,223 USD, 1,090 USD, 1,042 USD, 922 USD, 837 USD, 769 USD, 720 USD
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Investors do not have it easy with Ethereum at the moment. The resistance area around USD 1,880 is increasingly becoming a reinforced concrete wall. In the last few days, there was a significant correction movement due to expiration, from which the Ether price was not spared. As the expiry of futures and options on Bitcoin and Ethereum ended today, Friday evening, new bullish impulses could occur with the start of the new month.
Bullish variant (Ethereum):
As recently as the previous week, the Ether chart looked as if the corrective move was complete. Although the Ethereum price slipped below the EMA20 (red) and EMA50 (orange) moving averages again as a result of the sell-off on the overall market, it stabilised at the lower Bollinger band at USD 1,545. Thus, the price continues to trade above the important support zone between USD 1,489 and USD 1,425 for the time being. Ethereum is currently stuck between the orange support zone and the red resistance zone. Only a breakout above USD 1,733 makes a renewed rise to USD 1,880 likely. This would be accompanied by a recapture of the EMA50 (orange) at USD 1,640 and the EMA20 (red) at USD 1,709. If investors manage to push the price back above these moving resistances, the cross resistance of the horizontal resist and the red downward trend line at USD 1,880 will come into view again. If investors manage to generate a rise above USD 1,880, a march through to the all-time high can be planned.
If there is no further sell-off in the area around USD 2,000, the all-time high at USD 2,057 comes into view. This is also where the 261 Fibonacci extension and the price-limiting upper Bollinger band are located. Only if the ether price can establish itself above the all-time high will the chances of a follow-on move to USD 2,811 increase. This is the 361 Fibonacci extension of the superior movement. If the bulls manage to break through this price level dynamically, price targets at USD 3,277 and USD 3,565 will be activated. The latter target is a desirable chart mark to be reached in the medium term. On the way, the red upward trend line could also be approached. An intermediate consolidation back to the area around USD 2,809 at the latest from the 461 Fibonacci extension at USD 3,565 is conceivable. If the entire crypto market continues to trend bullish in the second half of the year, a subsequent rise to USD 4,315 could follow. This is the 561 Fibonacci extension of the overriding price movement. The maximum price target remains unaffected by this and can be seen unchanged at USD 5,073 (661 Fibonacci extension).
The bear camp managed to strike back this week. The Ether price slid back to the lower Bollinger band in the daily chart. If this support at USD 1,545 is dynamically abandoned, a consolidation back into the orange support zone between USD 1,489 and USD 1,425 is likely to follow. Only if this strong support zone is sustainably abandoned will a directional decision be made at USD 1,376, or at the latest at USD 1,303. The correction low of 28 February and the 161 Fibonacci extension are at USD 1,303. If Ethereum undercuts the