ETH/USD 4H Chart: Decline likely to continue - Trade Pattern Ideas - Dukascopy Bank

Fri, 18 Oct 2019 05:41:45 GMT
Source: Dukascopy Bank SA
 
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)SellBuySell
Aggregate

The Ethereum cryptocurrency has been trading in a descending channel pattern against the US Dollar since the beginning of July when the pair reversed from its upper line at 314.44.

The ETH/USD currency pair will most likely continue to maintain the descending channel pattern within the following trading sessions. Bears could drag the price towards the weekly S2 at 156.33.

However, given that the currency exchange rate is trading near the upper boundary of the descending channel pattern, a breakout could be expected during the coming week.


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