ETH is following BTC I feel like sharing the other 100X because it seems they’re moving together right now. The last 30-minute close was green but formed a doji. Let’s see what happens next with the intraday support—will it hold or break? If it does break, where might it go next? Could it move higher? I guess we’ll find out soon.
ETH-BTC
The latest bull attack this monthTo date, the market is clearly working out according to the planned plan. We are still collecting work-outs, but it is worth being on the alert as we approach the end of the month. As the middle of the month progressed, we expected to see a wave of growth to consolidate the monthly bullish candle. As I wrote in the last review, as we approach the end of the month, we should expect a second wave of growth to finally consolidate the month bullish on the tops. Against this background, a new wave of growth began with the flips of monthly candlesticks and altos.
As always, the opening level of the new month will be of great importance. The opening levels of the half-year and quarter still technically support growth, but there is an extremely negative picture with a growing dollar and falling oil, which puts a lot of pressure on the crypt and increases the activity of sellers, which is why we have already seen a stronger correction from the 2750 ether test than expected. The 2500 level was broken again, which indicates a breakdown of the bullish trend and gives a signal for a new attempt to go to 2000 in the future. The next month is the central one in the quarter and the final direction for the end of the year and the five-year plan will be chosen, which can lead to a very strong increase in volatility and new large drawdowns for the altos. Given this picture, after collecting the latest developments this week, it is worth carefully weighing money management and reducing positions in the work before determining the direction of the new month.
Most of the coins that I have taken into work show good dynamics and are in the top of growth, troy has shown itself most well. Most of the goals were taken, so far I'm not considering it anymore. Among the coins without a monitoring tag, only vib remained the most attractive, with a likely increase by a retest of 0.125-150 and above. The weekly candle opened quite negatively on the ast. Unpleasant signals were also left for a new local fracture. Today, it was not possible to gain a foothold above 0.1 and give a local overshoot of the previous momentum. In addition, the ast was delisted with okx, which is an additional negative signal and a reason for a local fracture. In this regard, I reduced my position on the 0.1 test. For now, there is a possibility of a higher breakdown in the coming days when fixing above 0.1, but with a lower probability in my opinion than for vib.
In addition to vib, among the coins of binance, only coins with the monitoring tag remained in the most oversold position. Such assets are often the last to grow and may show good momentum in the coming days. OAX still has the top potential among them, with the nearest targets at a retest of the range 0.20-25 and an exit to the test of 0.35 in an optimistic scenario. Secondly, I am again considering the work of pros, a partnership with which was announced last week by Metalpha. The immediate goal for him, while maintaining the current emission, is a retest of the 0.50-75 range and a test of 1.0 under an optimistic scenario. Also, waves of growth up to 30-50% can still show vite and hard. When choosing the position size, do not forget that coins with the monitoring tag, although they have the greatest growth potential, still retain the probability of delisting.
To save funds in the medium term, gft looks the most interesting so far due to its high liquidity.
ADA Caution!Considering cycle theories and assuming Altcoins - especially those from 2015-2017 - could be in different corrective phases than Bitcoin, investors could be in a big surprise for the next upcoming months. While Bitcoin is potentially in its last cycle (retail wave 5) before its first major correction, the older Altcoins are still in their wave 2 which results in a long exhaustive ABC phase and often corrects more than 50% of the first impulsive wave which would also coincide with the 1.618 Fib.
This would mean that alt-season - for the older big coins - is not here yet. Regarding their meteoric rises after more than 10k% the fundamentals need to catch up to overvalued prices, which takes time.
A lot of people are confused and complaining about the "blue chip coins" not going up, especially Cardano, while Market Makers play the long game and suppress Altcoin prices artificially, simply keeping them in a big trading range and in corrective mode till their first cycle ends and the next begins.
ADA e.g. shows striking resemblance to NEM (XEM) with a similar corrective structure and sits on long time life support. The more it pokes on it the more it's gonna get dangerous for the next breakdown to the 0.10-0.20$ region.
Eth Bounce On BtcEth approaches major support which should lead back up to 0.05 btc. Which will likely lead to another attempt at major resistance at 0.1 btc. If 0.1 btc breaks then eventually 0.79 btc will be the next major major resistance. In 2021 Eth cleared 0.03 without checking back into it testing it's support. This is the retest.
APTOS - APT COIN SWING LONG IDEA - ALTCOIN MARKET - CRYPTOAptos is one of the most useful Layer 1 chains in crypto right now. I believe the fundamentals of this coin are remarkable, and I expect it to perform well during the 2024-2025 crypto bull market.
The price is coming from the monthly demand zone. It swept the 2024 spring low before getting rejected from the monthly demand, which created strong bullish momentum. It also broke the diagonal trendline responsible for the bearish movement. Currently, both weekly and daily momentum are strongly bullish.
I expect the price to hit the daily demand zone and take off from there. It might form a small range around this level, but I believe we are targeting all-time highs.
ETH BROADER TECHNICAL ANALYSIS AND TRADE PLANPrice Movement
The chart shows that Ethereum (ETH) has been moving within a descending trading channel after an earlier uptrend. The channel is well-defined by a series of lower highs and lower lows.
The descending channel extends from around early 2024 and continues through the current period. The price seems to be consolidating after bouncing from the lower boundary of the channel.
Current Price Action
Ethereum is currently trading at $2,582.26, down by 1.50% at the time the chart was captured.
The recent movement shows a potential double bottom near the lower channel support, signaling a possible end of the downtrend.
The price is at a critical juncture, as it appears to be breaking out of the short-term resistance within the channel, hinting at a possible reversal or continued sideways movement.
Descending Channel Structure
The chart highlights a descending trading channel where price has respected the upper resistance and lower support levels multiple times, indicating the reliability of this structure.
The channel also shows that while Ethereum is in a corrective phase, it still holds the potential for a significant bullish breakout if the current trend continues.
Technical Indicators:
Waveform Cipher shows a potential bullish divergence at recent price lows, which indicates momentum for a potential upward move.
ASL (Advanced Stochastic Line) and HMA Histogram show mixed signals, but the overall sentiment from these indicators points toward a bullish setup in the coming days.
Stochastic RSI suggests that Ethereum is currently in an oversold condition, increasing the likelihood of a rebound.
The technical setup with momentum indicators and divergences indicates a potential for a price breakout upward, possibly leading toward the top of the channel.
Price Targets:
Immediate Resistance: The next resistance level is located around $2,750 - $3,000, near the mid-point of the channel.
Upper Channel Boundary: The top of the channel is situated near $4,000, a key psychological and technical resistance level.
If ETH breaks above this channel, the next major target would be $4,250 - $4,500, indicating a full recovery of the downtrend and a continuation of the broader uptrend.
Key Support Levels:
$2,400 is acting as immediate support, which aligns with the lower boundary of the descending channel.
If Ethereum breaks below this level, the next major support lies near $2,200 - $2,000, which is a strong historical support zone.
Trading Plan for Ethereum (ETH)
Current Market Position:
Given the technical analysis, Ethereum appears to be at a critical level within the descending trading channel, with the potential for a bullish breakout. The recent consolidation near the support line suggests an opportunity for a medium-term bullish trade.
Entry Strategy:
Buy Zone: Enter a long position between $2,550 - $2,600, once confirmation of a bullish reversal or breakout is evident (preferably on increased volume or further confirmation from momentum indicators like RSI/Stoch).
Risk Management: Place a stop-loss at $2,400, which is slightly below the channel support and key psychological level. This mitigates downside risk in case of a bearish breakdown.
Take Profit Targets:
First Target: $2,750 - $3,000 – This is the mid-point resistance of the channel. Partial profits should be taken here, securing gains while allowing the remaining position to run.
Second Target: $3,500 - $3,750 – Full break of the channel with increased momentum can take ETH to this level. This is a key level to exit most of the position or lock in more profits.
Stretch Target: $4,000 - $4,200 – Ultimate price target based on the potential bullish reversal. If price approaches this level, full profit-taking is advisable as it would hit the channel’s upper boundary and a significant resistance area.
Alternative Plan (If Breakdown Occurs):
Short Position: If Ethereum breaks below $2,400, consider shorting ETH with a target toward $2,200 - $2,000 as a corrective phase could push ETH lower. In this case, place a stop-loss at $2,500, just above the breakdown level.
Position Sizing:
Risk only a small portion of your capital (e.g., 1-2%) based on the calculated stop-loss level to ensure risk management and preserve capital in case of invalidation.
Ethereum is at a pivotal point within a descending trading channel. Current indicators suggest the possibility of a bullish breakout, but risks remain due to the general downtrend. The trading plan focuses on a conservative entry with clear stop-losses and take-profit levels to manage risk.
🚨 CRYPTO REVOLUTION: 0.5 BITCOIN FOR KEFIR 💊 PART 3📣 Hello everyone!
I believe that we are witnessing a global uptrend in the ETH/VTC trading pair and the value of Ether in relation to Bitcoin should grow over time.
In May 2017, the first wave of the cycle ended, then in September 2019, the correction in the wave of the II cycle ended, after which the long-term impulse wave of the III cycle started.
In the wave of the III cycle, an impulse wave has already passed at the primary level, and at the moment the market is busy forming a wave of correction of the primary level. I expect the correction to end at 0.037 minimum in July 2024, maximum in September 2025.
After the correction is completed, according to the logic I have built, a long-term uptrend should begin, the minimum goal of which will be 0.55 Ether per Bitcoin coin.
⚠️ Think for yourself, decide for yourself - good luck in making independent trading decisions and profit ✊
Goodbye!
Cue ball sets an example for the marketThe probability of an increase in bull activity is maturing in the market again, let's consider the situation. First of all, the cue ball headed for a 75k retest with a likely overshoot, but a parallel increase in dominance, as I warned in previous reviews. The reaction on the viola should be expected after the cue ball is fixed in the trend and later when taking the level at 75k. In this regard, the first wave of alt activity is likely at the change of the month. I would like to draw your attention to the fact that when the first monthly candle closes in the bullish quarter, the probability of continued growth of the cue ball will increase until the middle of the quarter.
According to the cue ball, the second half of the month opened above 65k, which gives a signal for a slow continuation of growth and increases the probability of closing the month with a bullish candle. After consolidating the current weekly bullish trend, which is almost guaranteed, the prospects for the end of the month will become obvious and there is a high probability of tightening the altos to the current cue ball pattern. In this regard, as we approach the end of the month and the growth of the cue ball stabilizes, the probability of viola breakouts increases.
Against the background of the positive cue ball, first of all, we can expect an increase in purchases on alt over the weekend with a reversal of weekly candles in bullish and purchases in the second half of next week already for a reversal of monthly candles in bullish.
Strong pressure on alcohols is also exerted by the strongly growing dollar, against which the cue ball is trying to grow. This situation is fraught with a breakdown of the cue ball trend, which slows down investments in riskier altos. The same confidence is given to the altos at the end of the month by ether, which opened the second half of the month above 2600, which gives a signal for the test of 2750 and in the case of opening a new month above the level, a breakdown to 3250-3500 can be expected.
Until the growth is finally fixed, I am not in a hurry to take new coins to work. I still hold large positions primarily on troy vib and ast, which are in the most oversold position on the binance and do not have a monitoring tag. This weekend and next week, there is a chance of overshooting past impulses with an increase of up to 70-100% from current levels. I also use gft to save funds in the medium term due to high liquidity and derivatives.
Among the coins with much larger goals for growth, but also the risk due to the monitoring tag, oax ooki is the most interesting. For security reasons, these coins can be taken in the second half of the week, since delistings most often take place in the first, and as reliably as possible on weekends. Last weekend, oax took a nice walk due to the presence of a pair to btc and more liquidity, ooki did not have enough liquidity for significant growth. This weekend, given the last bullish candle, oax has a chance to try to go to the test of the target range 0.25-35. At the end of next week, this probability will increase further. Ooki also has a growth potential of up to 100%+, however, due to low liquidity, it should be counted on last, already in the case of a large wave of growth in oax.
FET COIN SWING LONG OPPORTUNITY - AI CRYPTO MARKETAI technology is booming alongside the semiconductor industry, as we saw with massive new all-time highs yesterday (17/10/24). I believe the AI sector within the crypto market will quickly benefit from this trend.
FET recently broke its diagonal structure and is currently sitting within the weekly demand zone.
I believe we are ready for a takeoff, aiming for a swing trade that could bring us to new all-time highs.
Both the daily and weekly demand zones are currently supporting the price. I received LTF (lower time frame) confirmations and have bought a spot position as well as opened a swing long position.
The opportunity for Bitcoin to grow to 100KToday we are at another important point in choosing the further direction of the market, I want to consider the picture that has been created. First of all, I want to note the opening levels of the quarter as a key trigger of the market at the end of the year. According to the cue, the quarterly candle opened above 62.5k, which is a signal to hold the trend above 60k and gives an opportunity to try to continue the trend. When the level of 64k is overcome, the road will open for a sharp increase to 75. On a larger scale, at the moment there is a question of further movement from the key level of 60k to 90-100 by spring, or a rollback over the five-year plan up to 45-50 k. At the moment, given the weakness of the dollar, growth prevails with a probability of up to 70% in my opinion. A good opening of the quarter provides additional support for purchases.
According to the ether, the opening of the quarter is also in a good zone, above 2500, which ensures the maintenance of purchases in the long term and so far supports the probability of a trend of 5000. On a smaller scale, an opening above 2600 gives a signal for new attempts to exit above 2750, where the road will open immediately to 3500.
In the absence of negative factors in the form of powerful statistics on the United States and the departure of the euro below 1.09, it is quite likely that the cue ball trend will resume with an output above 75k this month. In this case, even with an increase in the dominance of the cue ball, the ether will be able to overshoot the last weekly candle, forming an inverted head and shoulders on the weekly chart and a high probability of going to 3500.
In case of pressure on the crypt from the foreign exchange market and the departure of the euro below 1.09 and even more so 1.075, the pressure of the bears will significantly increase. To push the cue ball to 75k+, the viola market can be squeezed with an increase in the dominance of the cue ball up to 75%+. In this scenario, from the middle of this week, a reversal of the weekly candle into a bearish one and sales on the air up to the 2250-2100 test is likely. The opening levels of the half-year and quarter will smooth out sales and insure against a sharp collapse, but it will become extremely difficult for coins to break through to growth in such a scenario.
The current weekly candle is highly likely to help consolidate the trend, and against the background of an attempt to surpass the last weekly one on the air by the middle of the week, such an attempt can be expected for individual coins.
Given the complexity of the market situation and delisting on the binance every month instead of one per quarter, as previously, I closed positions on weak coins with the monitoring tag ooki oax and pros, increasing positions on vib gft ast troy. According to these coins, there are still the largest growth targets among all binance coins, but I will take them into work after the announcement of delisting, if they remain in trade.
To date, OG has worked perfectly, which I recommended as a very liquid tool for saving money in the medium term. Given the current market picture, everywhere above 3.5-4.0$ OG is quite overbought and the probability of a deep pullback prevails. The goals for growth to $ 9-11 remain open, but I think they will not be fulfilled this year.
To date, gft and vib have remained a good alternative to OG to save funds in the medium term. As I wrote earlier, gft has a lot of liquidity, similar to OG, which makes it possible to trade even with a monitoring tag. For vib, liquidity is much lower, but signals for growth to 0.15-25 are left on the chart. It also remains, along with troy, the most oversold outside the monitoring tag among all coins on the binance. Just as interesting are the extremely oversold ast and troy, which are more suitable for scalping, because The ast is under pressure from incomplete emission and after an impulse of 50-70% it can roll back, while troy shows sluggish dynamics and inspires less confidence. However, I left signals for growth to 0.035-40 on a weekly basis.
Of the fantokens, only OG was considered for work because it has sufficient liquidity. For the rest of the group's tokens, the probability of additional drawdown prevails in the current market. Given the incomplete issue, many tokens can give a break.
Alikze »» DOT | Ascending channel - 8H🔍 Technical analysis: Ascending channel - 8H
- It is moving in an ascending channel in the 8H time frame.
- It has been in demand recently after hitting the bottom of the channel again.
- According to the current form and structure, this upward movement can touch the targets specified in the chart with the support of the green box range.
- In the first step, the first target will be the middle of the 4.68 channel, after which it can continue its growth up to the first supply area.
- In addition, in the case of breaking and stabilizing above the middle of the channel, it will have the ability to grow up to the ceiling of the channel and the range of the second supply.
🛑 The most important resistance: ~ 4.68
💎 Alternative scenario: If the green box and the bottom of the channel are broken, the bullish scenario will be invalidated and the correction can continue until the origin of the movement.
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BINANCE:DOTUSDT
Alikze »» ETH | Ascending channel🔍 Technical analysis: Ascending channel and corner alcove formation in the green support box area
- Continuing the analysis of the previous post , the Ethereum currency faced selling pressure after reaching the daily and weekly supply range.
- After the formation of a Double Top pattern, it has had a zigzag correction to the green box range.
- It is currently moving in an ascending channel, where the recent correction has intersected with the bottom of the channel and the green box.
- Therefore, I expect it to grow up to Fibo 0.78 and the dynamic trigger after the swing breaks and creates a higher LH.
- In addition, a corner pattern with higher bottoms of the ascending channel is also formed.
💎 Alternative scenario: If it fails to break the swing and does not stabilize above it, and also sharply corrects towards the green box, it is most likely that it will break it and continue correcting towards the Buyer Zone.
💎 Probable scenario: Currently, the probable scenario is the bullish scenario according to the bullish channel and also the corner pattern pattern. Therefore, after reaching the goal, the dynamic update will be done again.
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BINANCE:ETHUSDT
ETH Extreme Weakness - A Warning SignSince my last update on this chart, Ethereum has broken its long term uptrend and dropped almost 40% in value. This was back in May of this year:
Zoomed out, you can see the failed long term trendline. Obviously, a break back above it would be a bullish sign, but there's a long way to go, as it's currently around $4,000.
Right now, it rests on its 200 and 100 weekly moving averages (teal and yellow on my chart). There really isn't much support below here at all until previous bear market lows, near $1,000. In contrast, Bitcoin has a long way to fall before arriving in the same position. This is not unlike the previous cycle, where ETH bled significantly on its ratio against Bitcoin. For crypto bulls, this may be a good sign. However, there is still plenty to fall on the ETH/BTC ratio after making a macro lower high:
There is no support on the ETH/BTC chart until lows not seen since 2020. It doesn't bode well for the #2 cryptocurrency, as it was unable to make a new high against Bitcoin. This means it is unlikely to outperform again on longer timeframes. This isn't a great look either, given the new ETH ETF's. I have no intention of buying ETH again, after making significant profit from 2018-2021 (buying around $100 and selling near $3,000). Can't complain about those gains at all, especially as its price hasn't managed to really hold above that price point this time around. On the bullish side (in the short term) if price continues to hold here, there could be a corrective wave up towards the 50 week MA near $2,800 (red).
As for Bitcoin itself, the 200 week MA is a little below $40k at present. Let's see if price can break down from the current support at the 50 week MA (red). If support continues to be held here, it is likely to hold for ETH as well.
Now, what about this rate cut tomorrow from the U.S. Federal Reserve? Given retail sales and the apparent strength of the economy, it seems fairly likely that 25 bps will be the decision. Now, investors and other market participants are quire wary of other economic data, which could easily signify a recession. Markets have been volatile in recent weeks. The Fed must tread carefully. If they cut by 50, it could signal to investors that they tightened too far, and are taking greater steps to curtail a recession. This might spook the market. My guess is that even with the 25 expected bps, the market will have the same lackluster reaction, particularly as it's not a meaningful rate reduction. Either way, I don't think the market will be pleasantly surprised enough to cause a significant bump up, essentially making tomorrow a "sell the news" event.
We'll see though! Perhaps it really is that simple: rate cuts=more liquidity for a pump.
This is meant for speculation only! Thanks for reading.
-Victor Cobra
ETH Update - 02.09.2024 / Local UpdateAt 4h: we observe trading under the lower boundary of accumulation and formation of seller and liquidity imbalance zones from above behind the highs and the upper boundary of accumulation.
At 1h: here I expect either a liquidity re-sweep from the low or an inversion and a move to liquidity at the local high.
Stick to your risk managment!
ETHEREUM → Readiness for realization ↑ Target 3300 BINANCE:ETHUSD ETH is consolidating in front of strong resistance. Bulls do not let the price down beyond 0.5 fibo. amid Friday's news, the cryptocurrency market is reviving and ETH has high chances to pass through 2800.
A false breakout of the resistance of the range is formed, but instead of falling, the coin is consolidating, which is generally one of the pre-breakout nuances. Technically, it would be an ideal condition for me to wait for a prolonged consolidation near 2780-2800 followed by a price advance towards the zone with a breakout target. The liquidation that took place earlier rid the market of an unnecessary part of speculators, after which the whales went into an active accumulation phase, now ETH shows positive preconditions of readiness to go to the intermediate high and resistance of the global range.
Support levels: 2717, 0.5 fibo
Resistance levels: 2780, 2817
The market is bullish, as evidenced by some indicators, technical indicators on the chart, as well as the fundamental background. Accordingly, in the mid-term I expect the price to come out of the consolidation 2780 - 2550 and most likely this exit will be accompanied by a breakout of resistance and growth to 3300.
Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:ETHUSD ;)
Regards R. Linda!
ETH/USDT 1D Trade idea It's no secret, Ethereum has been struggling this Bullrun.
Outperformed by Solana and other new emerging L1's, a permabearish ETH/BTC chart and losing market share in terms of volume on chain to its competitors.
The daily chart is a difficult one to digest as a fan of ETH, despite the ETF approval and the institutional investment that has come with it, the trend is an obvious downtrend of late and shows no signs of changing anytime soon...
The ETH/BTC pair is a similar story only the downtrend has been the case for much longer, unable to keep up with bitcoins price gains. Bitcoin is currently -20% from its ATH set earlier this year, Ethereum is yet to break its previous ATH set in '21 of $4850, -47% at current price which is way off BTC.
For me there are two possible entries:
- A mid range reclaim would then target a range high move going into the end of the year.
- A safer entry of filling the wick set in the beginning of august with a slow grind down, sweep liquidity, reclaim and pump from there.
Both situations would require BTC to behave as always.
Ethereum - Buy on Range-Bound BreakouTrading Setup:
Buy on Resistance Breakout
Sell on Support Breakout
We already bought a little lower
We are currently waiting for new signals to make a new decision for our trade
So we wait for now
In general, if breakout ( up or down ) we will update the graphics
What are these signals based on?
Classical Technical Analysis
Price Action Candlesticks Fibonacci
RSI, Moving Average , Ichimoku , Bollinger Bands
Risk Warning
Trading Forex, CFDs, Crypto, Futures, and Stocks involve a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results.
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ETH is expected to see some stability and big price movementPrice Range and Volatility:
I see #Ethereum is predicted to trade within a range of $2,695.10 to $3,503.26 throughout August, with an average price around $3,173.50.
There is a seasonally weak period expected from August to October, which might see ETH prices dropping but still remaining within bullish support levels. If ETH maintains above the $2,555 support level, it could present a buying opportunity.
The anticipation of Federal Reserve rate cuts in September is expected to increase liquidity in the market, potentially benefiting cryptocurrencies like Ethereum. This could lead to increased inflows into ETH ETFs, supporting a price rebound
BTC & ETH bottom priceI have an idea for ETH & BTC.
Simple look back to 2020-02-24. ETH down 70% before jumping.
Same with BTC, it divided 2.5 times from local top 10K to 3K8 (around 63%)
From CoinGlass check the liquidation heat map for ETH and BTC.
With current situation, if BTC and ETH price turn down 63% for BTC and 70% for ETH then bottom price will be around 25K for BTC, and 1300 for ETH.
And go up crazy after that.
Alikze »»TIA | Movement in the descending channel🔍 Technical analysis: Movement in the descending channel
- It is moving in a downward channel in the daily and 4H time frames.
- It is located in the middle of the channel and within the liquidity zone. If it can be placed above the region and the middle of the channel, it can retest the ceiling of the supply range channel.
- The most important resistance for an upward trend is the $12.5 range.
- By breaking the $12.5 range, it can have an upward trend. Otherwise, the downward trend will continue.
💎 Alternative scenario: If selling pressure is encountered in the current range and the middle of the channel, the first downward target will be the bottom range of the channel and then the target of 6.25.
💎 In addition, if this channel is broken, it can touch the green box area as much as the width of the channel.
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