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ETHEREUM - ETH - Correction ahead! See targets in my analysis!Hello traders, Here is a brand new analysis of Ethereum. It has been exactly 18 hours since I wrote that the target of 4000 usd would be met within a few days but it has already happened! Congratulations with Ethereum and the 4000 reached level! What is next now? We are seeing now many divergences on multiple time frames among others in the MACD, RSI, STOCHASTIC. We are also forming a DOJI on a daily basis but the daily candle has not yet closed so it is not confirmed. You can see also a bearflag. These factors and the 4000 level which make me expect a correction. To be more precise, I expect a pullback now to the levels 3500 usd, 3200 usd and 3000 usd. 3000 usd seems to me the ultimate buying moment but probably everyone is too negative and thinks it will go even deeper. I will wait with patience anyway because my style is buy low (with a discount) and sell high with nice profits! Right now I am short Ethereum with a stop at 4060 and first target at 3500 usd. Is my stop hit than I had a very small loss but a very good Risk reward! I will turn bullish again if we break all time high and come back with a RE-TEST of that level. My buy order is already placed at 3050 USD with a stop at 2790 USD and a target of 4000 USD. This is my own personal view on Ethereum and not investment advice. Always use your money management and stops when trading. Have fun and trade safely! See also the related posts from Ethereum because they are very useful! If you guys appreciate my posts it would be great to follow and like me! It motivates me to continue with these analyses!
Short
by PegasusTechCharts
8
ETHEREUM ETH BEARISH WOLVE WAVE PATTERN ON 1 HOUR CHARTHello traders, We are looking here at the hourly chart of Ethereum. We see here a Wolve Wave pattern with a target of aprox. 3250. This happens to be also the 50% retracement Fibonacci Level. So both targets are coming together. ETH formed also a negative divergence in the RSI so different signals for the same target. The false breakout of the 5th wave validates the Wolf Wave. The volume of Ethereum in this pattern is also interesting. In the first wave we saw a large volume up to 3500 USD. The decline showed even much greater volume. In the rise of the last 2 waves in the pattern we see that the volume was lower. That was already a hint of the false breakout and after which immediately this pattern was formed. This is a hypothesis because patterns can and do fail but often they work well. Nevertheless, given the volume progression and the big rise of the last few weeks, it certainly seems possible to me. A stop above 3600 USD. If we do break out above 3600 USD this should be done with good volume. With a RE-TEST of 3600, I am again bullish for the longer term on Ethereum and the price targets from my previous analysis come into play. This view of Ethereum is purely my own opinion and absolutely no investment advice. Always do your own research before making a trade. Happy trading and as always best use money management and stops to protect your capital.
Short
by PegasusTechCharts
2
ETHEREUM - RISING WEDGE - NEGATIVE DIVERGENCES!Hello Traders, Here is an new update on ETH Ethereum. We can see on this 4 hour chart that there is a big negative divergence formed in the RSI. It is possible but of course not a guarantee that we will have an interim correction. We can also see a divergence in volume. Of course that is also bearish. Only if we break out of this rising wedge upwards with a lot of volume and the day candle also closes above the rising wedge then we can (in my opinion) continue the rise up to the targets in my previous analysis of Ethereum. Long positions are best and safest after a RE-TEST of the resistance level 3528 USD. That is a standard to go long after breaking all time highs. Stops for Short positions best to place just above the level at 3620 USD. You don't need to SHORT ETH but you can also have a buy pause because longer term view on Ethereum looks perfect! Important Support can be found at: Support 1 3189 Support 2 2961 Support 3 2798 (possibly a good buying opportunity) Support 4 2610 This is my personal view of Ethereum and not investment advice. Of course, always do your own research as well and only then take positions.
Short
by PegasusTechCharts
2
ETHEREUM - LONG - TARGET 4645 USD Hello traders, Here is a new update for Ethereum which has broken out of the medium-term upward trend channel. Ethereum has broken out to the upside with more than above average volume so I think the rise is sustainable. The targets for ETH are now: -> Target 1 3692 USD -> Target 2 4276 USD -> Target 3 4645 USD Support is now found in the ascending trend channel in case of a correction. Stops below the previous swing lows of course depending on your timeframe and Risk Reward and money management. A very important level which I use in my trading is always the 50% fib retracement level. Currently at 2816 USD but changes as we go up even more with ETH. Watch this level in case of a correction. Discalaimer: this is not a trading advice but purely my personal view on this fund.
Long
by PegasusTechCharts
2
Ethereum 4 month trendchannel - Is this the top for now?Hello Traders I would like to share this chart with you. It is the 6 hour chart of Ethereum ETH. You can see here an almost perfect trend channel over a period of more than 4 months. Interestingly, we have now reached the exact top of the channel with the latest rise in Ethereum. There is also a short but very steep trend channel in the larger upward trend channel. The Price has now converged with the short and long trend channel on the upside. It is now good to watch what happens next. My idea is that there should first be a correction to the current sharp rise. So I am not a buyer of Ethereum at these levels now. I prefer buying at the lower boundery of the trendchannel because of a much better risk reward and less risk. If Ethereum does break out further upwards I would certainly place tight stops to protect profits. A next target for a breakout from this long-term trend channel would then be 4000 USD. Please share your thoughts about Ethereum. Do you think it will have a correction or do you think it will break the upward trend channel and continues to rise. Please explain not only your view but more important the how and why! In the past Ethereum was not able to breakout this channel so it is very interesting how it further develops!
by PegasusTechCharts
13
Ethereum - Looks like topping out 3000 USDHello Traders, Here we see the 4 hour chart of Etherum. As often, a picture say more than a thoussand words. We are in the top of the trend channel and the target of 3000 USD is almost reached. I now expect a pullback because we are on the top of the trend channel, we have the formation of a rising wedge and we see declining volume during the rise. If the price breaks trough the top of the channel then this should happen with good volume. Again long if best on a retest of the upper trend channel line.
by PegasusTechCharts
14