ETH to $750 as soon as April? Resist @ $240,$275,$300,*$365...
ETH Resist @ $240,$275,$300,*$365,$475, $750,$1130,$1400
Ethereum has been on the down and out for two years thanks to a persistent descending trend line of resistance. It would appear as though 14.Jan.2020 we had a break of channel that came back a week later to perfectly test top of channel as support before blasting off!
We see a series of locations that will lend themselves an opportunity to provide resistance and potential exit/short points or otherwise providing support to establish a good entry. The lines with bigger gaps between them should be easier to trade for a profit. I have highlighted the approximate area for each resistance point and labeled each of the major points. $365 is particularly notable because that was our high last June, beating out $365 will confirm that we are in a mid to long term ascending bull pattern. If we don’t beat out $365, it could prove this to be a third smaller wave in a series of diminishing waves over the life of Ethereum’s price action.
I also highlighted something that I think has a strong probability of coming to play. “Resume this channel”? In a short-mid term very-bullish scenario where the last 6 months could have been a dip of which we then return back to the trajectory we maintained the 8 months before we had our 6 month descending channel. This would imply a rapid recovery, maybe seeing bottom of channel resumed around $750 as soon as April 2020 but against some fairly significant resistance when it arrives if so. If we resume this channel it would infer that Ethereum could be testing its all time highs as soon as mid-July 2020. This actually seems quite possible but my sense of common sense tells me it will likely take longer than this to come to fruition but it really has a great hypothetical setup. Remember though each of these support/resistance points represent an opportunity to go short or long and if we don’t break $365, we haven’t proven a longer term bull trend and it would reflect quite poorly, we need $365.
I like Ethereum, it is the most adopted blockchain solution for international business and the crypto dapp and token community. Ethereum has been a pioneer for blockchain adoption and I saw that potential as soon as Microsoft picked them up and started offering BlockChain As A Service (BAAS). The real critical moment and a huge point of contention in crypto regarding mutability was when Ethereum dev team pushed and through consensus, re-wrote the block where
80M USD had been hacked. This gave corporations the confidence to invest millions knowing this was the safest chain to invest their money and backed by Microsoft. Anyway, so I started buying Ethereum @ .88cents. I sold the last two batches I had @ $1400 and $800, I just recently started buying Ethereum again, though not near as much as I had.
My gains from Ethereum bought some nice rental property for me that has produced cash flow and equity as well. Those gains also paid for the bulk of software development on vcdepth.io and about 5 other software initiatives and a lot of taxes. The reason I tell you this is that I also would like to emphasize the importance of taking some of your gains off the table and diversifying your investments beyond crypto if crypto is all you invest in currently. Had I let my ETH ride until the bottom, I don’t think I could of bought a single unit/property with where ETH was sitting by December 2018, much less developed software.
As always, this TA is not investment advice, this is merely observations I have made while doing my own research. Make sure you DYOR!
Oh.. and also please consider trying our site, it’s the only site with real-time and historical market depth and 6 different depths of market and we have order flow coming soon among other things. Here is a capture of eth from our TV integrated charts. >
From vcdepth.io/coins/binance-bnb
Ethereum has been on the down and out for two years thanks to a persistent descending trend line of resistance. It would appear as though 14.Jan.2020 we had a break of channel that came back a week later to perfectly test top of channel as support before blasting off!
We see a series of locations that will lend themselves an opportunity to provide resistance and potential exit/short points or otherwise providing support to establish a good entry. The lines with bigger gaps between them should be easier to trade for a profit. I have highlighted the approximate area for each resistance point and labeled each of the major points. $365 is particularly notable because that was our high last June, beating out $365 will confirm that we are in a mid to long term ascending bull pattern. If we don’t beat out $365, it could prove this to be a third smaller wave in a series of diminishing waves over the life of Ethereum’s price action.
I also highlighted something that I think has a strong probability of coming to play. “Resume this channel”? In a short-mid term very-bullish scenario where the last 6 months could have been a dip of which we then return back to the trajectory we maintained the 8 months before we had our 6 month descending channel. This would imply a rapid recovery, maybe seeing bottom of channel resumed around $750 as soon as April 2020 but against some fairly significant resistance when it arrives if so. If we resume this channel it would infer that Ethereum could be testing its all time highs as soon as mid-July 2020. This actually seems quite possible but my sense of common sense tells me it will likely take longer than this to come to fruition but it really has a great hypothetical setup. Remember though each of these support/resistance points represent an opportunity to go short or long and if we don’t break $365, we haven’t proven a longer term bull trend and it would reflect quite poorly, we need $365.
I like Ethereum, it is the most adopted blockchain solution for international business and the crypto dapp and token community. Ethereum has been a pioneer for blockchain adoption and I saw that potential as soon as Microsoft picked them up and started offering BlockChain As A Service (BAAS). The real critical moment and a huge point of contention in crypto regarding mutability was when Ethereum dev team pushed and through consensus, re-wrote the block where
80M USD had been hacked. This gave corporations the confidence to invest millions knowing this was the safest chain to invest their money and backed by Microsoft. Anyway, so I started buying Ethereum @ .88cents. I sold the last two batches I had @ $1400 and $800, I just recently started buying Ethereum again, though not near as much as I had.My gains from Ethereum bought some nice rental property for me that has produced cash flow and equity as well. Those gains also paid for the bulk of software development on vcdepth.io and about 5 other software initiatives and a lot of taxes. The reason I tell you this is that I also would like to emphasize the importance of taking some of your gains off the table and diversifying your investments beyond crypto if crypto is all you invest in currently. Had I let my ETH ride until the bottom, I don’t think I could of bought a single unit/property with where ETH was sitting by December 2018, much less developed software.
As always, this TA is not investment advice, this is merely observations I have made while doing my own research. Make sure you DYOR!
Oh.. and also please consider trying our site, it’s the only site with real-time and historical market depth and 6 different depths of market and we have order flow coming soon among other things. Here is a capture of eth from our TV integrated charts. >
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