EthereumLong
What is this chart telling us? How I'm going to anticipate(ETH)
Hello everyone
Today a small update on the price action of ETH. Let's get straight in to this!
If we take the 4H chart, we can see that there is a lot of fluctuation going on in ETH. Although the last few days, the crypto market is very stable. This can have a bunch of reasons:
- Because the volume is going down since the end of May. ( crypto market in general)
- The big uptrend from EOS (whose tech is similar to the one of ETH (direct competitor)).
- whales sell- off's (the end of May)
BUT there is good news aswell!
- the ETH-dominance is going up when the markets are going down. This means that the coin is getting stable and mature. We can see this with BTC aswell (BTC is even more stable and less volatile). At the moment is ETH-dominance getting up which is a good thing!
- we can see a clear reversed head and shoulder (small one) this can be a bullish signal in the near future.
graph:
- we can see a small reversed head and shoulder pattern (bullish)
- we are now in a buy-zone ( own opinion long term)
- hope to get under the 550
- a lot of support/resistance levels are created (interesting)
- very strong support at 500
Prediction:
I think that ETH is slowly but surely going down because of the low volume. remember Crypto is no hype anymore. If we go under the 550, that's for me a buy-opportunity to thick my wallet further.
My orders:
- I set my order for ETH at 550
- will sell the majority at a max of 720
Patience is key on this one!
Give it a like if you appreciated it
comments and thoughts are always welcome
My orders are my thoughts and are no financial advice!
Today a small update on the price action of ETH. Let's get straight in to this!
If we take the 4H chart, we can see that there is a lot of fluctuation going on in ETH. Although the last few days, the crypto market is very stable. This can have a bunch of reasons:
- Because the volume is going down since the end of May. ( crypto market in general)
- The big uptrend from EOS (whose tech is similar to the one of ETH (direct competitor)).
- whales sell- off's (the end of May)
BUT there is good news aswell!
- the ETH-dominance is going up when the markets are going down. This means that the coin is getting stable and mature. We can see this with BTC aswell (BTC is even more stable and less volatile). At the moment is ETH-dominance getting up which is a good thing!
- we can see a clear reversed head and shoulder (small one) this can be a bullish signal in the near future.
graph:
- we can see a small reversed head and shoulder pattern (bullish)
- we are now in a buy-zone ( own opinion long term)
- hope to get under the 550
- a lot of support/resistance levels are created (interesting)
- very strong support at 500
Prediction:
I think that ETH is slowly but surely going down because of the low volume. remember Crypto is no hype anymore. If we go under the 550, that's for me a buy-opportunity to thick my wallet further.
My orders:
- I set my order for ETH at 550
- will sell the majority at a max of 720
Patience is key on this one!
Give it a like if you appreciated it
comments and thoughts are always welcome
My orders are my thoughts and are no financial advice!
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