The second largest cryptocurrency presents a great buying opportunity.
Bokka Crypto Technical Analysis ETH/USD 30.05.18
On Tuesday May 29th, MACD crossed above the zero line on the Ethereum hourly chart – it was a “BUY” signal – and we bought ETH at $540.
This breakout from the declining trend occurred slightly above the 23.6% Fibonacci retracement level, of the last downside move from the $718 high to the $493 low. The current price of Ethereum is a good entry point for the establishing of new positions by long-term investors.
We opened a long position, yesterday, at the $540 level and set our trailing stop in line with the lower border of the Donchian channel, currently just above breakeven at $546.
Previous Day Close = $565
All-Time High = $1,432 on January 13th, 2018
Current Drawdown from ATH = -60%
Trailing 12 Months Return = 190%
Year-To-Day Return = -25%