Ethereum - The rally loses momentum quickly Recently, we expressed our lack of belief in the Ethereum price rally. Indeed, when it traded between 1500 and 1600 USD, we stated the price started to appear attractive again for the short position re-entry (accompanied by tight-stop loss).
Since then, Ethereum stalled and dropped approximately 7%. Nevertheless, we continue to be bearish on the pair as we foresee threats from fundamental and technical factors.
Accordingly, we would like to set the price target for ETHUSD at 1000 USD. However, our bias will be invalidated if the price retraces above its recent high at 1 663.53 USD.
Technical analysis - daily time frame
RSI, MACD, and Stochastic turned bearish. DM+ and DM- are due to perform bearish crossover. Overall, the daily time frame is bearish.
Illustration 1.01
We are looking for the bearish retracement below the immediate support level. These developments are structurally similar to BTCUSD. That will further confirm our bearish thesis.
Technical analysis - weekly time frame
The RSI stalls. The Stochastic points to the upside but stays in the lower area. The MACD is neutral. DM+ and DM- are bearish. Overall, the weekly time frame is bearish.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Ehtbtc
ETHEREUM 4H Analysis. Up or Down ? (Update)🟢 ETH rejected from the resistance of $3000 area. ETH is now taking support at $2580-$2600 area and needs to hold this level. The first resistance is $2750-$2760 level and $2850 area. The major resistance is $3000-$3150 area. If ETH breaks the $2580 support then the next good support is the $2350 area. USE proper stop loss in your trade.
⚠ This Analysis will be Updated.
✍ Analyzed By Amirhossein
⚠ DYOR
ETHBTC AnalysisETHBTC chart shows that after a long downtrend, it was able to break its downtrend line in the second half of January 2020. It is currently moving in its long-term uptrend. ETHBTC has not been spared in the recent fall and has undergone a sharp correction, which has seen the price below 3,000 theter.
The ETHBTC is currently near its uptrend line. It is expected to move upwards by hitting this upward trend line. A return from the 0.071 price area, where both static and dynamic support is located, is likely.
Now, if this support is lost and the uptrend line is broken down, the price trend will be down. Upcoming supports include:
0.071
0,065
0,060
If moving upwards, the resistance ahead are:
0.079
0.083
0.088
Ethereum Buy a break setup.Ethereum - Intraday - We look to Buy a break of 2412 (stop at 2342)
Pivot resistance is at 2389.
The previous swing high is located at 2410.
Bias is mildly bullish today but we need to see a break of 2410 to confirm the upward pressure.
Our short term bias remains positive.
Our profit targets will be 2598 and 2648
Resistance: 2400 / 2500 / 2600
Support: 2250 / 2150 / 2060
ETH Buy the uptrend.ETHUSDT - Intraday - We look to Buy at 2126 (stop at 2049)
Daily signals are bullish.
The primary trend remains bullish.
Trend line support is located at 2120.
Previous resistance, now becomes support at 2150.
We look to buy dips.
Our profit targets will be 2348 and 2438
Resistance: 2300 / 2350 / 2400
Support: 2200 / 2130 / 2050