Ethereum Technical Market Analysis 8th September 2019

The end of the week for buyers looks pretty appealing. Yesterday, Ethereum buyers were able to break through the black trend line of the wedge and tested the main critical point USD 185. This trend line was guarded by sellers from 27 June, and now the next target of buyers is USD 200.

So far, we do not see the fact that the breakdown was wrong. On the hourly timeframe we see a clear winning candle of Ethereum buyers, which is supported by increased volumes:

Special changes are still unnoticed on the daily timeframe. The candles do not look average, the volumes have not changed either. And if we miss the fact that the black wedge is broken, we see consolidation with the upper limit USD 185 and the lower one USD 168:

Therefore, buyers need to fix above USD 185 as soon as possible, which will give a second signal of growth continuation and reduce the risk of buying this coin.

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