Ethereum: what do red and green bars at bitcoinity.org mean?
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** Ethereum: What does the red and green bars mean on the Bitcoity graph?
At Bitcoinity.org, the popular graph of changing the Ethereum market movement can be launched. The graph presents a series of bars that show changes in cryptocurrency price over time. Although it can be simple to understand what each bar represents, there are shades and models that can indicate different conditions.
In this article, we will break down what each color on the red and green bars means to bitcoity.org.
Red bars: What does they mean
If you see a red bar above zero, it usually indicates a decrease in Ethereum price. This can be a sign of early warning of a descending potential tendency or correction. In other words, if the red bar is over zero, it suggests that the market can have a kind of pressure or impulse loss.
Here are some possible reasons why you could see a red bar over zero:
* The over -stated feeling : If the price has grown rapidly and investors become too confident in Ethereum’s perspectives, they could begin to sell their positions quickly. This can lead to a decrease in the market.
* High volume sale : In periods of high market volatility, some investors can use this as an opportunity to get their positions by selling at lower prices. As a result, you could see red bars over zero that indicates the sale with large volume.
Green bars: what does they mean
If you see a green bar below zero, it usually indicates a recovery or jump in the Ethereum price. This can be an early sign of a potential upward trend or reveal. In other words, if the green bar is below zero, it suggests that the market can experience some kind of purchase or impulse gain.
Here are some reasons why you could see a green bar below zero:
* Purchase interest : As investors become more optimistic about Ethereum’s prospects and prices, they can start buying shares quickly. This can lead to an increase in demand, which makes the price recover over the red bar.
* Hit assistance level : If Ethereum has fought against his level of support or resistance area and starts back, you could see green bars indicating this.
** When are over zero?
In general, if both red and green bars are over zero, it may indicate a more complex situation:
* Multiple bars model
: A series of red and green bars in rapid succession can match that the market is experiencing more multiple purchase or sale opportunities.
* Analysis of price action : This model could be indicative for price action analysis, where the market tries to break away from the current trend or impulse. Red and green bars could be different stages of this process.
Conclusion
In conclusion, while the meaning of the red and green bars on the Bitcoity graph can be simple at first glance, they can provide valuable information about marketing, purchase or pressure for potential trends in Ethereum pricing. By paying attention to these patterns and taking into account several factors, you can get a better understanding of the cryptocurrency market and you can make more informed decisions as an investor.
Sources
- Bitcoity.org: Change graph
- Cryptocompare: Ethereum Price Chart
Note: This article is only for informative purposes and should not be considered as investment tips. Always do your own research and consult with a financial counselor before making investment decisions.
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