21shares Ethereum Etp ETF Forecast
21shares Ethereum Etp ETF price ended at 31.16 Fr on Friday, after gaining 4.72%.
(Updated on May 17, 2024)
The 21shares Ethereum Etp ETF price gained 4.72% on the last trading day (Friday, 17th May 2024), rising from 29.75 Fr to 31.16 Fr. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 2.52% from a day low at 30.39 Fr to a day high of 31.16 Fr. The price has risen in 6 of the last 10 days and is up by 3.99% over the past 2 weeks. Volume fell on the last day by -199 shares and in total, 2 thousand shares were bought and sold for approximately 60.13 Fr thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -7.66% during the next 3 months and, with a 90% probability hold a price between 26.53 Fr and 33.94 Fr at the end of this 3-month period.
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AETH.SW Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, May 14, 2024, and so far it has risen 7.88%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The 21shares Ethereum Etp ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at 32.11 Fr. On a fall, the ETF will find some support from the short-term average at 29.92 Fr. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for 21shares Ethereum Etp ETF
21shares Ethereum Etp finds support from accumulated volume at 30.83 Fr and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved 0.765 Fr between high and low, or 2.52%. For the last week the ETF has had daily average volatility of 1.96%.
Our recommended stop-loss: 30.06 Fr (-3.52%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (AETH.SW) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect 21shares Ethereum Etp to open at 30.90 Fr, and during the day (based on 14 day Average True Range), to move between 29.95 Fr and 32.36 Fr, which gives a possible trading interval of +/-1.21 Fr (+/-3.87%) up or down from last closing price. If 21shares Ethereum Etp takes out the full calculated possible swing range there will be an estimated 7.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 31.26 Fr (0.32%) than the support at 30.83 Fr (1.06%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is 21shares Ethereum Etp ETF A Buy?
21shares Ethereum Etp holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.604 Hold/Accumulate Unchanged
Predicted Opening Price for 21shares Ethereum Etp of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| 30.90 Fr ( 0.82%) | 31.16 Fr |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AETH.SW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31.67 | 1.64 % | |
| R2 | 31.37 | 0.699 % | ||
| R1 | 31.19 | 0.119 % | ||
| Current price: | 31.16 | |||
| Support | S1 | 30.61 | -1.76 % | |
| S2 | 30.43 | -2.34 % | ||
| S3 | 30.14 | -3.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 37.60 | 20.69 % | |
| R2 | 32.30 | 3.66 % | ||
| R1 | 31.26 | 0.321 % | ||
| Current price | 31.16 | |||
| Support | S1 | 30.83 | -1.06% | |
| S2 | 30.27 | -2.86% | ||
| S3 | 28.53 | -8.43% |
FAQ
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