ETH Analysis/Price PredictionAs long as Ethereum can continue it's bullish pattern between the parallel lines, we should see between $2,900 and $3,500 by June 13th.
Ethereum-bitcoin
Ethereum vs Bitcoin! Let's have at it!Hey TradingView Traders, Investors and buddies!
I hope this idea comes at you having found yourself having a blessed weekend and a wonderful day!
Let’s dive in together as the two guerillas of ‘new money’ wage some ideological war throughout the publication below.
The term "Flippening" refers to the hypothetical moment of Ethereum (ETH) overtaking Bitcoin (BTC) as the biggest cryptocurrency. It may seem outrageous to think Ethereum will overtake the Bitcoin market cap, but let's go over the logic on why there is probability of this occuring.
Let’s dissect some fundamental headwinds for ETH vs Bitcoin by exploring the development of their networks current upgrades:
Fuel Fees. Under the current system, users send what’s known as a gas fee to miners as payment for transactions to be verified, in a kind of auction. Minders in current proof of work complete transactions by using computing power to solve puzzles on the network which create crypto and receive a piece of the fuel payment. Eth however has seen rampant growth, especially due to NFTs popularity and this is made evident with the block sizes consistently being near full. When the network gets busy the auction system of fuel fees enable users to bid up their transaction to essentially jump in que which leads to increased costs within the network.
Solution. EIP-1559 will address this issue during the “London hard fork”. With the new update the gas fees will be automatically determined with a base fee which will fluctuate according to network congestion. At this point an ETH user can simply compensate the miners with a “tip” if they need to jump in que. This isn’t the “end all, be all” solution, but as far as favorable fundamental tailwinds, the network will “burn” a chunk of the gas fee. This is essence ‘deflationary’ for eth. Bitcoin has gotten a lot of favor for having a ‘fixed’ supply, but if ETH continues to increase in popularity we could eventually see that more ether gets burned then generated for miners. I am of the humble opinion that this will result in a rise in the price of ether.
Additional Fundamental news – Eth 2.0
I have come across a great deal of misinformation about ETH 2.0, and a few points that I would like to clarify is first with a simple ‘visual’.
I once heard a psychologist say Sigmond Freud constructed a vast room of clarity when it came to psychology while Carl Jung excavated a mansion around that that room. In many ways ETH 2.0 is being built around ETH and simply will absorb it within the network. This seems very practical as it will make the transition very easy for users, and node operators. ETH 2.0 will make the platform radically swifter, more scalable by upgrading the mechanics of the network. The two biggest upgrades will be the transition of Proof of Work like Bitcoin to Proof of Stake like Cardano.
Bitcoin has miners competing to solve complex puzzles and they are then provided block rewards. As Turncoat T(M)usk (/sarc) has accurately stated Bitcoin energy consumption has skyrocketed. With the conversion to Proof of Stake ETH will validate transactions and ‘mine’ using the number of coins they are holding and willing to offer in essentially what amounts to an ‘escrow account’. This will colossally reduce the impact on the environment along with not only energy consumption but as Vitalik mentioned on the Lex Fridman podcast, hardware consumption as well.
Each Ether node operator has to stake 32 ether and then receive rewards. They mentioned on the podcast that this is actually MORE secure then Bitcoin as an attack on the network would costs more than the collective value of all stakes that had been submitted in the beacon chain in December – they mentioned essentially it would costs greater than $15 Billion Dollars’ worth of ETH.
The second upgrade will be “sharding” which was also mentioned in the podcast and within many research papers and articles. This will essentially entail new networks running parallel blockchains within the network. Vitalik himself described it as essentially taking a random 100 node operators and delegating them to come to consensus on a certain block, and then after they are all in agreement they are broken up into a new random sampling to come to consensus on a new block. Once they block has come to consensus it is “signed/authenticated” and linked to the main beacon chain. This will make it radically more efficient, reduce costs, increase scalability and improve the user experience and the experience of those staking the product. The users staking receive passive interest on their underlying deposit in the “escrow” account.
The benefits in conclusion will be energy/hardware consumption plummeting, more efficiency, a swifter more scalable network, a deflationary product that is burning ETH and rewards for those passively operating nodes which will encourage them to “stay long” to reap the rewards.
Bitcoin on the other hand is working on adding “the Lightening Network: as a second layer to the Bitcoin network which will enable transactions peer-to-peer off network “off chain transactions”. This has been in development by Thaddeus Dryha and Joseph Poon since 2015, and will be important for emerging markets especially. The benefits to the lightning network will be increased transaction time, and decreased costs for transactions.
The latency in the network which occurs when the network attempts to process simultaneous transactions has led to higher transaction fees as miners take longer to validate transactions. Also, participants can sometimes pay a higher fee to have their transactions processed faster very similar to ETH to essentially jump in que. Bitcoin's Lightning Network is supposedly going to help improve the processing times, build scalability, and lower the network's transaction fees. When the lightning network is in full swing the vision is for users to transfer Sats between each other without charges directly from digital wallets off-chain. Taking transactions ‘off-chain’ will improve the congestion ‘on-chain’ and will reduce the costs and improve the processing time.
There is a great deal of criticism about this upgrade. The primary criticism is that it will not actually solve the transaction fee issue. Although the lightning network allows payments between two parties, an opening transaction or deposit must be made via on-chain. The two parties then can process multiple transactions between each other, but once the bill has been settled, they need to record a closing transaction for the settled amount on the blockchain. There is a separate routing fee to transfer payments between channels. Since the fees for the lightning network are quite low, in theory, it should attract more participants. However, if the fees are so low for the routing of payments between nodes, there might not be any incentive for the nodes to facilitate the payments.
Another criticism is if there is congestion created through a malevolent attack. The idea originator Dryja himself stated, “forced expiration of many transactions may be the greatest systemic risk when using the lightning network.”
The final criticism is that we still are not addressing the rampant energy consumption of Bitcoin. I know proponents like Saylor are justifying this as essentially “well the internet itself uses a lot of energy”, “we want a lot of energy and costs associated with keeping the cleanest money in the world safe.” I will not dispute Saylor, but I also would certainly not call Bitcoin “clean”. We will see with the ETH 2.0 upgrade the energy cost reduce by 99% according to research papers. I have heard an analogy that if Bitcoin is consuming the energy of the city of all of London, following ETH 2.0 upgrade, Eth will be consuming the energy of a single tenant in an apartment in London.
The final comment I will make is simply the utility of the two financial products. ETH enables smart contracts, BTC enables ‘wealth transfers peer-to-peer.’ I will also say one benefit BTC has over ETH is that it is more decentralized than ETH is, and hopefully some of you can comment and add additional benefits that surely I may be missing.
Simply put, ETH is “smart money” and BTC is supposedly a “store of value” – personally though I rotated 99% of my BTC into ETH about 8 weeks ago and have happily not looked back.
This conversion was not because of simply the better upgrades instore for ETH, but rather due to Technical Analysis.
So let's peek at some TA on the daily so you can see the prices of each product at the moment of this idea being written:
In the green corner we have ETH at $2,688:
In the red corner we have BTC at $36,034
Lets simply look at the trends associated with Market Dominance.
We can clearly see below ETH above the EMA ribbon with the ribbon pointing up in a bullish trend.
We can clearly see below BTC below the EMA ribbon with the ribbon pointing down in a bearish trend of market dominance.
Final chart is a weekly ETC/BTC pair. I will state plainly that before looking at ETH overtaking the BTC dominance please notice the increase in volume and the trend as user growth has been exploding. Regardless of where you park your wealth I think good things are in store for both of these financial products.
I know many are very passionate about their favorite project, and I welcome competing ideology! The TradingView Community is remarkable and I have great respect for all you brilliant minds that provide new paradigms and perspectives. I certainly may be missing some key points so correct me if I am wrong, or let me know which other project you think is better than even these two that I should explore next.
If you enjoyed this content please be sure to give it a like so other traders get a chance to digest this and add their expertise.
In a spirit of abundance I wish nothing but great fortunes upon you dear friends!
Ethereum (ETH) Bullish CaseI will start off by saying this is not a recommendation to buy nor sell, not advice, and I am currently in a long position on ETH. I'm also not saying this will play out exactly the way I think since all it takes is a national government—or Elon Musk—to drop the entire crypto market out of the sky. However, I believe the transition between the two majors is finally taking place, and I will give both a technical and fundamental analysis on why:
Technical Analysis
Ethereum (ETH) vs. Bitcoin (BTC)
Currently, on the daily, we are seeing an ascending triangle forming for ETH while BTC is forming a symmetrical triangle. Now, this doesn't immediately strike me as being a bearish indicator, as it's more neutral, however, we know that symmetrical triangles can sometimes lead to a downward move. The point here is I believe ETH will eventually lead the market to a bullish move; bringing BTC with it. We see volume trending down for both cryptos. Lastly, looking at the stochastic, we can see the momentum is starting to peak above 80 again. Something to note: my stochastic is setup to show me strength of momentum during a trend and overbought/oversold in a range. You can see what I mean by looking at the indicator on ETH between 4/29 and 5/12. Holding above 80, it moved roughly 56% from 2750 to its all-time high of 4330. On the flip side, BTC saw a similar move between 2/6 to 2/22 where it held above 80 and moved about 50% from 38400 to 58100 before falling into a range.
I threw some fib lines to show where there might be resistance after ETH breaks above the current triangle pattern. If there's enough support behind the crypto, I could see it form some resistance around 3640. From there, I'd project we'll likely see a bull flag form down to the 1.272 at 3230.
Again, these are just the technical indicators that I look at myself using a strategy that's mostly focused on equities. However, there are some fundamentals at play here that are a bit interesting.
Fundamental Analysis
Let's kick this off with some stats:
Since the COVID bottom on 3/13 that put ETH around 90 and BTC around 3800, both have made a killer comeback over the last 450 days.
Low to ATH:
BTC: 1600%
ETH: 4900%
Low to 450 Days:
BTC: 830%
ETH: 2850%
As of today, BTC is down 45% while ETH is down 39% from their all-time highs of 64900 and 4380 respectively. Oddly enough, those all-time highs were nearly 1 month from each other, which, if you were around for the winter crypto boom of 2017/18, you remember that ETH hit its all-time high exactly 1 month after BTC. Now, we need to correlate the two powerhouses here and show the differences between then and now. During the winter 2017/18 run, BTC ran a staggering 1400%, while ETH ran a bit more to 1800%. From the 2017/18 high to the COVID low: BTC saw an 81% drop where ETC saw a staggering 94% drop.
One fun little stat comparing ETH to BTC between winter 2017/18 and now. As we mentioned above, BTC is currently down 45% from its ATH where ETH is 39% from its ATH. In 2017/18, factoring in the same 1-month lag for ETH to peak, BTC fell 55% where ETH fell 39%. This begs the question of: does this mean we're going to see ETH continue to perfectly correlate with BTC?
This is where I don't think that's the case anymore. The main reason for this drop was due to events that took place causing considerable fear in the crypto market. The fact that ETH is about to "hard" fork to ETH2, which is set to make the blockchain more efficient with proof of stake (PoS), is likely to attract even more influential names. Which we already have seen with Elon tweeting that he agrees with Vitalik. Potentially we could see Tesla ( TSLA ) eventually switch its BTC for ETH.
However, this is just pure speculation on my part. We'll see how the crypto market performs over the next few months and if ETH begins to have a mind of its own.
Ethereum LONG / SHORT ?? Bull market Finished? Check it here!Dear traders, here is a new analysis for Ethereum.
Ethereum has fallen out of the rising triangle and that means a possible further decline. There are several patterns that point to that decline.
We see a Diamond that has broken out. Ethereum is also forming a head shoulder formation with now the right shoulder in the making.
If Ethereum stays above the orange "Last hope trend line + Ultimate support", thenis definately still with the Bullish scenario.
See Green arrow trajectory! The LONG target possibly with 36 hours.
Short only if the following conditions are met and confirmed:
---> Warning - Caution <----
So the SHORT scenario starts only after the last trendline (LAST HOPE TRENDLINE and Ultimate support has been broken through!
Only AFTER that, the following targets and opportunities to short come into view.
---> That will also automatically close the LONG position and go SHORT <---
I have not a single problem with reversing the long to short if needed. Trade what you see, not what you think!
First targets:
Targets, 2540. 2468, 2395, 2335, 2271, 2184, 1891, 1730
Different ways to short here at confirmation:
1. After a breakout below the orange neckline.
2. Upon a retest of the orange neckline.
3. After a retest of the green broken rising trend line.
Good luck traders!
Disclaimer Traders this is my view, no advice to buy or sell. Also always do your own research!
--->> Traders please follow me for updates and give me support with a like 👍 if you like me to continue this work. Thanks 💚
ETH breaking 1h support - Buy zones detected1h Chart
ETH just broke support at 2,300
Laggard ichimoku line (1) in downtrend
Price action below red cloud
4h Chart
Laggard ichimoku line (1) also crossing price action
Conversion line just formed a death cross with baseline (2)
Daily Chart
Laggard ichimoku line (1) rejected by price action
Buy zones:
Price is coming to test the $2,000 zone. If it doesn't hold is going to try to find support between $1,500 and $1,200
ETH - What is our next stop?It looks healthy for now,
The price is going up and there is a resistance on the way up.
This resistance happens on the $2900 area. But can we cross it?
We might! The Buy Volume is not anything high or low, it's normal... Platforms are showing a regular Buy signal which is obviously because the resistance is a little away from the current price.
The Bollinger Bands are squeezing which is a sign of strength, and also Fib is warning as the price is going near the resistance.
This is a 4H chart, so if the price crossed the resistance and closed a 4H candle above that area, you can safely open your long positions and aim for the TPs I've shown on the chart. But be careful because the market is fragile.
Current Market Price: $2800
Good Luck
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ETH - Purple War Zone!Ethereum broke above 2500 ... WHAT NEXT?
ETH is overall bullish trading inside our red channel so we will be looking for Trend-Following Buy setups as it approaches the lower red trendline.
Moreover, the area 2450-2500 is a "Resistance turned into Support".
So the highlighted purple circle with the blue arrow is a very strong area to look for buy setups as it is the intersection of support in blue and lower red trendline.
As per my trading style:
I will be waiting for it to approach the highlighted purple circle (area) to look for possible buy setups (like a double bottom, trendline break, and so on...)
Unless ETH breaks below the 2500 zone downward with a big daily candle, then the support would become resistance again.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
#ETH $BTC Chart UpdatesThe crypto markets are consolidating, for the most part, and we have found the "bottom".
MASSIVE HEAD AND SHOULDERS PATTERN ON BTC, BTC TO 20KRead the graph, I believe that BTC will correct to 20k then continue a massive bull run to 100k by end of the year.
Bear Case Confirmed: Ethereum/Bitcoin SpreadAs I warned yesterday, the intraday Ethereum/Bitcoin spread is an important risk on / risk off barometer to watch for the crypto market and it failed to hold a critical level. We are saturday morning and we have just seen a huge volume spike with a drop, making this a 5 waves down from May 26th top. It's possible the spread deteriorate along with a second crash on the way. This is a long week end and it's easier to manipulate this market while alot of people are celebrating memorial day. I placed a support where I think we are headed in the short-term. Let's see how it plays out.
Ethereum SlumpsEthereum has fallen back to $2400. This was our lower estimate from the last report. If we don't see support here, we will break down to $2232, then $2143. If we see some momentum come through after that, we will need to break $2651, then $2965, which has provided extreme resistance to ETH lately. After that, we have a vacuum zone to the $3K's, so it should be smooth sailing, but this will take some serious momentum. The Kovach OBV is completely flat, suggesting that we are not seeing anywhere near the momentum we need just yet.
ETH 0.886 A Gorgeous ShortETH has made it back to 0.886 with BTC at downtrend resistance. A great short right here. Not advice however.
ETH Reverse Head and Shoulders-- LONGUsually I don't make short term price predictions but I am fairly confident in this one. ETH has just about completed a reverse head and shoulders using 15 minute candles. We bounced strongly off the 0.618 fib line and it looks like we at least want to push to the previous high. If we can break the previous high, we have daylight
Wait for a clean break of the neckline to enter your position and watch closely if we test the previous high of 2765. Higher conviction if we get big volume on a breakout from the neckline
Good luck out there
- Sultan of Chart
SOS to 8$ first target and 15$ second target!SOS will hit 8$ easily if it break 4$! SOS to 8$ first target and 15$ second target!
The intraday spread of ETH/BTC is worrisomeThe first thing I wanted to take a look at when I paid my PRO+ subscription was the intraday spread between Ethereum and Bitcoin. It can be seen as a risk on / risk off crypto indicator. The count from the top seems clear to me: 5 waves down followed by 3 waves up. The resistance at 0.0735 is extremely important. During the bull market, it served as a support several times and during the downtrend it acted as a resistance twice. If we really have 5 waves down, it could be possible that the 3 waves up counter rally we have seen from May 23rd to May 26th is over. I know it may sound crazy but that could be it if we are in a bear market... Maybe there's no more juice and this was just a huge dead cat bounce.
ETHUSDTVolume profile for price action of breakout above previous all time highs.
ETH at resistance value zone right now. Needs to get above EMAs and flip to continue bullish trend. Possible bearish trend from here short term.
ETH will be above 5k within 12 months
ETHEREUM - Short Me One More TimeEthereum looks done here at the 0.786 fib retracement. Opening another short position.
Not advice.
$ETH Update, Bounce off 61% Retracement Level As my last Ethereum post discussed being a buyer around the $2000 level, the crypto has bounced off of its $2000 price point, or 61% retracement level from its ATH. A "close" above the $2500 level would indicate a reversal in my opinion, as the crypto finds support within its Fibonacci channel within the $2000 - $2500 range. Still trading above its 200DMA, but dip buyers are relentless which means a bullish reversal due to demand is likely.
Link below was the forecast made last week.
Ethereum Finds Support!!Ethereum found support in the upper $1000 handle after dipping as low as $1750. The Kovach OBV seems to have picked up suggesting there is nice momentum to this buy back. We have peaked above the $2232 level and the next target and potential area of resistance is $2400. We still have a long way to go before reaching former highs, but there are several levels above separated by vacuum zones that we are likely to cross as we get more momentum coming through. If not, there are clusters of levels to provide support in the low $1000 handle. In particular, $1700 seems to be a lower bound for now.
Ethereum ETH Short only under Supportline - Rising wedge brokenHello dear traders, here is a new update for Ethereum,
This is the 30 minute chart and you see that we have fallen out of a rising wedge.
The target points to a re-test of the previous bottom but as we have seen before the market is massively manipulated and that does not make it any easier.
On a breakout downwards trough the support of 2550, Ethereum is likely going to fall further and or re-test the last bottom.
The 42500 level in Bitcoin is extemely important. Waiting for this level to be cleared is a good thing and an extra level of safety. When ETH breaks to the upside and also with good volume, the down scenario in ALTS is not valid anymore for the very short term in my opinion. The mid to longer term perspective is not looking healthy is the least we can say!
So in short, if we don't breakdown the 2500 then it is also possible that ETH will go sideways in a tradingrange between 2500 and 3000 USD.
This is what I see in the chart of Ethereum, it is a possible scenario but always remember to also look at Bitcoin for the main direction and also to do your own analysis!
----->> Traders please follow me for updates and if you give me support with a like👍 then that will motivates me a lot to continue💚 - Thanks guy's! <<---
Safe and happy trading!
Disclaimer Traders this is my view no advice to buy or sell. Also always do your own research!
ETHBTC a new bitcoin dip is readyMy Marketmiracle advisor generated an input signal on ETHBTC yesterday
I have been monitoring the graph of BTCUSD and ETHBTC for hours and it seems that a new jump in the void of the BTC is ready, and obviously as a result of this Ethereum will open up to him
This idea is based on a signal generated by the advisor Marketmiracle, down on this page you will find the link to the page of signals of the advisor that you can see for free without any cost or registration
