Ethereum Failed To Hold $600 | Bokka
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Ethereum Failed To Hold $600

Bokka Crypto Technical Analysis

After two weeks of flat range, a new strong bearish trend was formed for Ethereum.


Bokka Crypto Technical Analysis ETC/USD 24.05.18
Daily Review

On Monday, May 21st, MACD crossed below the zero line on Ethereum hourly chart – it was a “SELL” signal – and we sold ETH, that we previously bought for $685, at the level of $699. This week ETH lost more than $150, forming a “dead cat bounce” yesterday evening. Now it continues its freefall, broking the descending triangle. Ethereum price is around $550 at the moment of writing, making a new low since April 19. There are no strong support levels below, so Ethereum can decline further in upcoming days.

Trading Status

We had long positions opened on May 18th at $685 which were closed on May 21st by the trailing stop set according to the lower border of the Donchian channel, at the level of $699. So, we made a small profit of roughly $14 per ETH. Current drawdown gives the opportunity to make new purchases cheaper, so we will wait for new entry signals.

Market Parameters

Previous Day Close = $583
All-Time High = $1,432 on January 13th, 2018
Current Drawdown from ATH = -59%
Trailing 12 Months Return = 220%
Year-To-Day Return = -23%

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