EthereumPoW Coin Technical Analysis: Will ETHW Rise from Here

• EthereumPoW coin (ETHW) is currently trading at $2.01 with a minor decline of -2.75% in the 24 hours.
• The EthereumPoW coin increased by 7.71% in the last 7 days.
• The ETHW market capitalization is $220894988.

By analyzing the price data of the ETHW coin, it is observed that it is in a downtrend. The price inclined by 7.71% in the last seven days and we can say that the EthereumPoW coin’s performance is good. It tanked -96.56% from its peak price of $58.54 in spam for 10 months. The current market sentiments are not so good about the ETHW. No huge volume is present in the coin. As of now, there is no buyer interested in buying the coin. Bears dominating the market currently.

EthereumPoW Coin (ETHW) Technical Analysis

The price of EthereumPoW coin (ETHW) has slipped below 50 and 200 EMA, which suggests that the price is in a bearish trend. If the sellers continue to push the price down, the coin’s value may fall even further in the upcoming week. The bears are not in the mood to give power to the bulls right now.

The MACD indicators are also in the negative zone The MACD line at -0.04600857 and signal line at -0.00602238  is below the zero line, suggesting that the MACD is in negative territory and is giving bearish signals.

The current value of RSI is 54.50 points. The 14 SMA line is currently close to the median line, around 50.84  points which shows neutral sentiment in the market. As the price is heading toward overbought territory, the market is experiencing bearish sentiment at the moment.

EthereumPoW Trendline Analysis:

The price has respected its significant trendline resistance and is heading for support. As soon as the price breaks the trendline, it will go down to the next support. 

Volume Analysis:

EthereumPoW coin (ETHW)’s average trading volume for the last 24 hours is $22432361 which is showing a 3.30% growth in volume in a day. Lack of buying interest in the coin is the major reason behind the lower volume.

Technical Levels:

• Support – The current support level of (ETHW) is $1.258.

• Resistance –The current resistance level of (ETHW) is $2.51900.

Summary

EthereumPoW coin (ETHW) is struggling in the market. Based on the price action, it appears that a price break of its primary trendline support level may lead to further price drops in the coming day. ETHW price shows a pessimistic situation at the moment. Major reliable indicators like EMA, RSI, and MACD give negative signals about the coin. Due to the adverse performance of the ETHW coin, investors are afraid to invest in it. The coin is not showing any recovery signs right now.

Disclaimer

The analysis given in this article is for informational and educational use only. Do not take this information as financial or trading advice. Trading and investing contain financial risk. Before making any investment or trading decision, please consider your risk profile and circumstances.