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Ethereum
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ETH/USD Local work.

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Potential work depending on the breakout / non-breakout of important local support / resistance levels and trend lines is shown on the chart.

Chart for understanding where this zone is for local work in a secondary uptrend. ETH/USDT Secondary uptrend.
ETH / USDT Secondary uptrend.


My previous trading idea for this coin ETH / USD Uplink. Triangle. My trade for 1 year.
ETH / USD Uplink. Triangle. My trade for 1 year.


Take a close look at the updates of all the work in the previous trading idea.

snapshot

Precisely the target of 4290.18 has been reached. And the trend reversal began from it.

snapshot
Note
snapshot + 18% inside the wedge formation from the 1800.13 reversal level. At the moment, the price has approached the resistance of this descending wedge (trend) and the price level of 2100. An important reversal zone or the continuation of the development of the local trend.
Note
snapshot
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snapshot about + 30% of the entry point or + 15% from the breakdown of the wedge
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snapshot +35% to the zone of local resistance level 2576 (2411.19 is important) and pullback. Which forms a potential double bottom in the case of holding this support zone. Let me remind you that in 2 weeks "London". They may try to parrot it. A very large volume in 2 months was redeemed and withdrawn from the exchanges
Note
snapshot +48% at the moment from the reversal from the level of 1800.13. The price has almost reached locally the resistance level of 2850.18
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snapshot About +50% from the reversal zone. Tomorrow there will be the expected London Hardfork. The price is near an important resistance zone. A local double bottom has fully formed. Protect your profits (this applies to all altcoins). If you are not in position do not enter the market early, remember, many traders have made from the reversal of the local trend in exactly 18 days +50% profit. Consequently, some of them fix part of the profit before the resistance and the event. There may be a "carry-over".

They can come up with any news for the price direction. Breaking through the resistance - further trend development and execution of the formation. Not a breakthrough - a rollback to the mirror support level of $2300, which is the area of intersection of the dynamic support of the secondary trend (in green).
Note
snapshot +85% from the reversal. Now a local pullback. Important zones on which further local price development depends on are marked with arrows. Similarly as on BTC a cup is formed. At the moment, the retest of the mirror channel support level (former resistance).

Also, we clearly see a harmonic pattern that formed something between a bearish butterfly and a bearish crab. I don't use harmonic patterns in my work, as they give a lot of false signals, but at the moment I marked it as very clearly visible.
Note
snapshot after a local pullback, the zone of the level of 2850 has become a turning point of the local trend. The price made +13% with a large squeezed volatility (uncertainty of market participants) in this zone, thereby forming a triangle, which is now breaking up (level 3384). The reversal points of the levels zones, on which the development of this trend depends, showed on the chart.
Note
snapshot Linear chart (without market noise). A large triangle is forming at the top of the trend.
Note
snapshot +27% from the breakout of the local downtrend (red) from the support level 3006. The price at the moment is at the resistance of the triangle (red bold line).

The important point, the reversal zone or continuation of the trend. I think here are clear options for the development of price movement. Breakout and fixation above resistance and continuation of the trend (do not forget about false breakdowns) or reversal and formation of a full symmetric triangle and then a very strong price growth.
Note
snapshot
Note
ETH/USD Medium-term work. EIP-4844 Network Upgrade News
 Just in time, the breakdown of the local symmetrical triangle and such positive news from Buterin about a possible upgrade in the ETH network called EIP-4844. Guess what 4844 is? Look closely at the chart and you will see. This is the previous high price.

Follow risk management in your work. If they decide to cheat and make a false breakdown, you need to remember about the potential head and shoulders pattern.
But at the moment, everything is developing positively. All price levels on the chart are shown extremely accurately, analyze the previous work.
SpartaBTC
✅ Telegram. Finance + Trading: t.me/SpartaBTC_1318
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Also on:
altcoinsbinanceChart PatternscryptoCryptocurrencycryptotradingETHEthereum (Cryptocurrency)ETHUSDETHUSDTPivot PointsTrend Analysis

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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
altcoinsbinanceChart PatternscryptoCryptocurrencycryptotradingETHEthereum (Cryptocurrency)ETHUSDETHUSDTPivot PointsTrend Analysis
SpartaBTC
✅ Telegram. Finance + Trading: t.me/SpartaBTC_1318
✅ Telegram. Сrypto trading only: t.me/SpartaBTC_tradingview
✅ Instagram: instagram.com/spartabtc_1318
✅ YouTube (Rus): goo.su/vpRzRa2
Also on:

Related publications

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.