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Ethereum (Cryptocurrency)

ZILUSD Forecast: Bullish Momentum & Targets for Q4 2024, Q1 2025ZILUSD currently finds robust support at $0.0136, suggesting favorable conditions for a potential uptrend. The recent retesting and observed volume indicate a promising setup for a bounce. Concurrently, the ETHBTC pairing shows notable growth, poised to potentially flip the 0.6 level, signaling a likely rally in altcoins. Moreover, with ETH's ETF approval nearing, the market anticipates heightened volatility and upward movements in Q4 2024. Historically, such periods have exhibited significant price rises and increased market activity during bull runs. Notably, preparations for market exit around March or November 2025 are advisable as bull runs typically conclude during these times. In historical contexts, ZILUSD has shown resilience and substantial targets during bull runs, with a minimum target projection of around $0.5 in Q4 2024. Breaking the $0.5 resistance could propel prices towards a maximum target of $1.5 by Q1 2025. Since its listing in January 2018 amidst a bear market, ZILUSD underwent significant downtrends until March 2020, followed by a notable uptrend till May 2021's bull run. Subsequently, a downturn from May 2021 to December 2022 led to a consolidation phase until March 2024, marked by recent upward movements. Retesting support at $0.0135 suggests a potential for a substantial uptrend towards Q1 2025 amidst the approaching altcoin season, expecting similar market volatility. Monitoring resistance zones and patterns is essential to maintain active trading strategies. Consider exiting long positions around March or November 2025, aligning with historical market cycles. For more detailed analysis and future trading ideas, follow us on TradingView. Share this idea with your friends and family to maximize profits. Please like, comment, and engage with our posts for more insights. Thanks!
CRYPTO:ZILUSDLong
by Houseofcryptokings
ETH on daily timeframe Hello traders, Based on my analysis, i have identified a bearish trend on the higher timeframes. Additionally, i expect ETH to reach the $3200 zone in the lower timeframe to complete its pullback. After reaching the $3200 zone, i suggest considering both the price action and momentum. I believe that there is a possibility for the price to go down to $2700, and if this level is breached, i anticipate a further decline towards $2000. It's important to closely monitor the price action, consider other technical indicators, and be aware of any news events that could impact Ethereum. Market conditions and sentiment can change rapidly, so it's crucial to adapt your analysis accordingly. Please remember that trading involves risks, and it's important to conduct thorough research, implement appropriate risk management strategies, and make informed decisions based on your own risk tolerance and financial situation. If you have any further questions or need clarification, feel free to ask.
BINANCE:ETHUSDShort
by somayehbasiri
ETH/USDT CHART ANALIYSIS !!Ethereum (ETH) against Tether (USDT) on Binance shows notable price action within a descending channel. The price is currently at $3,112.96, showing a slight increase of +1.51%. ETH has been trading within a descending channel since early April. The price bounces off the lower boundary and moves towards the upper boundary. The price found strong support in the $2,900 - $3,000 range. The 200MA (green line) acts as significant resistance above the current price. Additionally, the upper boundary of the descending channel serves as another resistance level. A horizontal supply zone around $3,100 to $3,200 is creating selling pressure. The price was rejected at this level previously and is now attempting to break through again. The 200-day moving average (200MA) is currently above the price and acts as resistance. A breakout above the 200MA would be a bullish signal. Volume: Although not shown in this chart, volume is crucial in confirming breakouts or breakdowns. High volume on a breakout above the 200MA would strengthen the bullish case. Scenarios to Watch: A breakout above the 200MA and the upper boundary of the descending channel would confirm a bullish trend. The next resistance levels to watch would be around $3,400 and $3,800. A breakdown below the support zone and the lower boundary of the descending channel would indicate further downside. Key support levels below the channel would be around $2,700 and $2,400. The price could also consolidate within the current range of $2,900 to $3,200, forming a base before a decisive move. Indicators and Signals: Monitoring RSI can help identify overbought or oversold conditions. MACD (Moving Average Convergence Divergence): Crossovers in MACD can signal potential trend reversals. ETH is rebounding from the support trendline and testing the 200MA Watch for a breakout above the 200MA or a breakdown below the support trendline. $3,200 (supply zone), $3,400, $3,800. $2,900, $2,700, $2,400. Stay alert for high-volume moves to confirm breakouts or breakdowns. This will provide a clearer direction for the next significant price action. Feel free to ask for a more detailed analysis or additional charts! Remember:-This is not a piece of financial advice. Stay tuned to us for further updates and analysis. Thank you!
Long
by CryptoSanders9563
1
Ethereum Daily OutlookETHUSD trades below the $3000 level due to risk aversion. It hit a low of $2822 yesterday and is currently trading at around $2970. According to Bloomberg reports, ETH ETF will commence trading by Jul 15th, 2024. The intraday bullishness is possible if it holds above $3200. On the higher side, the near-term resistance is $3200. Any significant jump above the target is $3520/$3700/ $4000/$4500/$5000. Significant bullish continuation only above $4800. The immediate support is around $2800. Any breach below $3100 confirms bearish continuation. A dip to $3000/$2800 is possible. A violation below $2800 will drag the Ethereum to $2500/$2300/$2000. It is good to buy on dips around $2850-60 with SL around $2750 for TP of $4500.
BITSTAMP:ETHUSDLong
by adiechiii
1
Ethereum On A 7 Year Old Support! Is This The Bottom?Now that crypto has been trading bearish for weeks, there might be a light at the end of this dark tunnel. Ethereum has seemingly found support on a 7-year old support line, which originated late 2016 when ETH was still trading around 7$. As seen on the chart, the support line has also signaled a pump back in September of 2023. If this support holds, it might be the last time that ETH will be trading at 3,000$ forever. On the other hand, if BTC will continue to fall, ETH will likely follow. It remains to be seen whether ETH bulls can keep the BTC bears in check. I'd say it's more likely that ETH will fall through this support in the near future than not. Nevertheless, ETH is trading at a very interesting place for bullish traders.
KRAKEN:ETHUSDLong
by FieryTrading
BTC is down >10%; Is this a buy-the-dip moment?Just because something is cheap does not mean it is a good buy, and just because something is expensive does not mean it is a sound investment. This investment adage applies to Bitcoin (“BTC”) ever more so than now. Bitcoin prices dropped 11% over the past week, triggered by substantial BTC sales by the German government. Concerns loom about the forthcoming Mt. Gox repayments, which are likely to increase near term supply. Persistent downward pressure is anticipated as further sales are pending. Yet BTC ETFs are witnessing significant inflows, indicating that investors are capitalizing on lower prices. This paper explores a hypothetical spread trade involving short micro BTC futures and long micro-ETH futures, given the near term headwinds facing BTC and the tailwinds of ETF approval imminent for ETH. BTC DECLINES 11% DUE TO LARGE SALES BTC prices have plummeted by 11% since July 1st, breaching the critical USD 60,000 support level and 200-day moving average. This sharp decline was propelled by a series of negative factors: 1) German government liquidating its BTC holdings: The German government has been liquidating its BTC holdings which were seized by the German police earlier this year. The government has already liquidated 10,000 BTC (USD 550 million at current prices) since mid-June. Crucially, the German government still holds more than 42,000 BTC (USD 2.3 billion) which could have a major impact on markets if sold. The consistent outflows to exchanges in July suggests the impact could be felt in the near term. 2) Mt. Gox begins repayments: On Friday 5/July, Mt. Gox stated that it had started transferring BTC and BCH to its customers 10 years after the exchange was hacked. More than 47,000 BTC was moved out of the Mt. Gox cold wallets on 5/July, suggesting the repayments are ongoing. Given the size of the transfer, the impact could be substantial. While the repayments will take place in a staggered manner, most customers are expected to receive their BTC within the next six months. Aggregate repayments will total up to 140,000 BTC. 3) Large Long Liquidations: Due to the sharp market moves in the past week, BTC derivatives saw large liquidations for both long and short positions. However, the overall liquidations were much larger last week. BTC longs worth more than USD 210 million were liquidated on 4/July and 5/July. The large liquidations further exacerbated the decline. Large short liquidations over the past 12 hours suggest volatility persists in both directions. Source: CoinGlass 4) Fear Sentiment Dominates BTC: BTC’s fear and greed index has rapidly fallen to its lowest level in the past year. Over the past month, sentiment has shifted rapidly from extreme greed to fear. Heightened fear sentiment could impact the resilience of BTC holders. At the same time, periods of extreme fear can also represent buying opportunities. Source: Alternative.me Crypto Fear and Greed Index Long-term BTC holders (HODLers) who have not moved their tokens in more than 1Y have been remarkably resilient so far. Although the balance from this cohort has declined 7% YTD, it has been due to GBTC outflows, the impact of which was absorbed by other ETFs such as IBIT and FBTC. As sentiment swings the other way given the current sharp decline, more holders could start to sell their BTC. 5) BTC ETFs saw huge inflows last week: Following a mixed June which saw outflows from BTC ETFs total USD 1 billion, ETFs are once more seeing inflows. Since 27/June, more than USD 200 million have flowed. The largest inflow was on Friday 5/July, when price fell sharply. This suggests ETF buyers are using the price corrections as an opportunity to buy more BTC. This presents a potential bullish driver for BTC if prices fall too low. ETH RELATIVELY RESILIENT AS ETF APPROVAL BECOMES IMMINENT Mint Finance covered the relative outperformance of ETH to BTC in a previous paper . Approval for ETH ETFs is imminent. Bloomberg analysts previously suggested that approval could come through in early July. However, due to delays and re-filings, the updated approval deadline according to Bloomberg analysts is currently 15/July. Recent re-filings with the SEC showed minimal changes in the applications suggesting the applications are close to their final form and should be ready to trade within next few weeks. ETH ETF approval will drive spot buying and support ETH price. This is likely to drive specific outperformance of ETH relative to BTC. HYPOTHETICAL TRADE SETUP BTC faces multiple near-term headwinds. However, a directional position may be inadvisable given the bargain buying for ETFs and the sizeable, short position liquidations as price recovered on 8/July. Volatility remains high which presents a risk to a directional short position. Instead, investors can opt for a spread trade consisting of a bullish view on ETH and a bearish view on BTC. The spread trade effectively balances out price movements by offsetting declines in one cryptocurrency with gains in another. This approach provides investors with exposure to the relative performance of BTC and ETH. The recent decline in price has led to a decline in the ETHBTC ratio offering a compelling entry point to benefit from the ETF approval while maintaining a bearish view on BTC. The following hypothetical trade setup combines a long position in 19 x METN2024 and a short position in 1 x MBTN2024. • Entry: 0.05295 • Target: 0.05750 • Stop Loss: 0.05050 • Reward to Risk: 1.75x Notably, this trade does not match notional exactly as the current BTC/ETH ratio is 18.85. Alternatively, CME offers Ether/Bitcoin Ratio (EBR) futures that enable investors to gain exposure to the ETH/BTC ratio through a single transaction and match notional exactly. Each contract of these futures corresponds to an exposure of USD 1,000,000 multiplied by the index value (approximately USD 52,280 at a ratio of 0.05228 as of May 31). These contracts enable investors to obtain relative value exposure on these closely correlated assets without taking a directional stance. The EBR contract is also substantially more margin efficient than individual futures on both legs. Liquidity on the EBR contract is lower than the MET and MBT contracts for now. Volumes in the EBR contract saw a strong uptick in June suggesting greater investor activity in these futures. MARKET DATA CME Real-time Market Data helps identify trading set-ups and express market views better. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com DISCLAIMER This case study is for educational purposes only and does not constitute investment recommendations or advice. Nor are they used to promote any specific products, or services. Trading or investment ideas cited here are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management or trading under the market scenarios being discussed. Please read the FULL DISCLAIMER the link to which is provided in our profile description.
CME:MBTN2024Short
by mintdotfinance
ETH Target REACHED ! Follow my Ethereum Analysis For those who followed my last analysis of ETH on the daily timeframe and had the patience to wait until we reached our target, I am pleased to inform you that we have reached a very important point of interest where there is a high probability that the price will consolidate a bit before bouncing back. So far, the analysis has gone perfectly according to plan. Since Sunday, I have opened a percentage, and if it continues to drop a bit more, I will keep adding. Regards, and thank you for your support.
COINBASE:ETHUSDLong
by RocketMike111
EURUSD - Big Crash is coming...Hey Traders, We are still working with this complex zigzag pattern (5-3-5). We are currently in wave C = 5 waves. We have made the first impulse down ( subwave 1 ) and now correcting ( subwave 2 ). Expecting subwave 3 this week. Price has already retraced to 70% Fibonacci levels. This means we should start preparing ourselves for the reversal. We have marked our sell zone between 0.705 fib and 0.786 fib that lines up with the channel's resistance. EURUSD 1H - Jumping down to lower timeframes, we can see divergence using the MACD indicator. Divergence = Reversal soon. SHORT Setup: - Wait for break of ascending trendline on 1H - Stoploss: Above channel's resistance or above the highs after you enter - Targets: 1.060 and 1.050 Good Luck and Trade Safe!
by Tradenessfx
08/07/24 Weekly outlookLast weeks high: $63,884.22 Last weeks low: $53,536.87 Midpoint: 58,710.54 A continuation of BTC selling off has lead to a loss of nearly $10,000 from Bitcoins price from high to low. This sell off is mostly propelled by large selling pressure caused by the German Government selling, however they still have $2.2B of BTC to sell and Mt.Gox begin repayments of stolen funds from 2014 causing increased selling pressure. From a TA standpoint BTC is still LTF bearish, but the interesting part is the HTF's as BTC is retesting the 1D 200EMA as resistance since breaking below it last week. In a Bullrun you really don't want to see too much time spent under the 1D 200EMA, it should really act as strong support and a place to add to LONG positions. This week I would like to see the Bullish OB+ @ $52,000 tagged before making a judgment on where BTC is going next. It's a strong support area that will attract price too it, TA says this is a good area to go LONG but this is definitely not a blind bid environment. It also happens to be a 30% drop from ATH which has been a common Bullrun correction in the past. This week my focus is on the ETH ETF updates, the S-1 forms rumoured to be due tomorrow, then it's down tot the SEC to turn them around. ETH is around $3000 with sentiment at yearly lows, definitely an opportunity there. Also the BTC1D 200EMA is a point of contention and an important S/R level.
by ProR35
ETHUSD: Thoughts and Analysis Today's focus: ETHUSD Pattern – Support formation Support – 2800 - 2880 Resistance – 3073 Hi, traders. Thanks for tuning in for today's update. Today, we are looking at ETHUSD on its daily chart. The key question we are asking today is: Has price started to find key support, or are we set to see one more low? For now, buyers contnue to hold firm from 2800. Has the Mount Gox news been overdone, or will this new supply dump continue to push coins lower? Good trading.
EIGHTCAP:ETHUSD
by Eightcap
1
ETH/USDT Outlook ICT Concepts💰 Welcome to Your Channel! Welcome to our channel where we delve into the intricacies of financial markets. Today, we focus on ETH/USDT , dissecting its current price action to uncover strategic trading opportunities. Join us as we analyze key levels and market dynamics, aiming to refine our trading strategies and maximize potential gains. 🔍 Identifying Key Levels • Previous Month High (PMH): The highest price level from the previous month, often acting as resistance. • Previous Week High (PWH): The highest price from the last week, also a resistance level. • Previous Month Low (PML): The lowest price from the previous month, serving as a significant support level. • Buy Side Liquidity (BSL): Zones where buy orders are clustered, leading to sharp upward movements when hit. • Sell Side Liquidity (SSL): Zones where sell orders are clustered, leading to sharp downward movements when hit. This has recently been taken out. • Order Block (OB): Areas where price consolidates before a significant move, acting as support or resistance. • Inversion Fair Value Gap (iFVG): When a bearish Fair Value Gap is disrespected and price trades through and above it, it becomes an iFVG, signaling a bullish condition. 📉 Current Price Action The price has taken out the PML and SSL, indicating significant sell orders have been filled. The price is currently in an inversion Fair Value Gap (iFVG). 🔄 Bearish Scenario If the iFVG fails to hold, expect continued downward momentum. Look for lower time frame confirmations to reinforce the bearish bias. 📈 Bullish Scenario Considerations For a bullish reversal, the iFVG needs to remain respected. Key factors: • iFVG Respect: Holding above the iFVG suggests a reversal. • SMT Confluence: Lower time frame SMT adds to the bullish case. 🔎 Lower Time Frame Confirmation SMT (Smart Money Technique): Use lower time frames for SMT to confirm bullish positions. Align SMT with a respected iFVG for stronger confirmation. 📊 Chart Analysis Summary SSL Taken Out: Indicates a potential bottom. iFVG: Critical for determining continued bearish momentum or a bullish reversal. iFVG Respect: Necessary for a bullish reversal. Bullish Confluence: Lower time frame SMT supports potential reversal if iFVG is respected. 🔗 Correlation with Bitcoin Keep in mind that Bitcoin (BTC) and Ethereum (ETH) are correlated pairs. When Bitcoin moves significantly in one direction, Ethereum often follows suit. This correlation can be used as an indication for taking positions on ETH. Understanding the Correlation: • Positive Correlation: BTC and ETH prices generally move in the same direction. If Bitcoin shows signs of a bullish reversal, Ethereum is likely to follow. • Market Sentiment: Both cryptocurrencies are influenced by similar market sentiments, news, and macroeconomic factors. • Strategy: Monitor Bitcoin's key levels and price action as a leading indicator for Ethereum trades. If Bitcoin respects or disrespects certain levels, expect Ethereum to exhibit similar behavior. 🙏 Thank you for joining us! Exploring ETH/USDT today highlighted the importance of effective risk management in trading success. Prioritize research, implement robust strategies, and seek guidance for confident market navigation. Stay tuned for more insights on our channel. Here's to profitable trading and continuous learning! ⚠️ Disclaimer The information provided here is for educational purposes only and should not be taken as financial advice. Always conduct your own research and consult a licensed financial advisor before making any investment decisions.
by RealArmin
1
Ethereum (ETH)After huge pumps in crypto market we will have a little correction Ethereum price today is $1.6k with a 24-hour trading volume of 14.4 billion dollars on June we had a crazy Volume for eth and whales buys the dip which is a very good sign for eth price in future Eth under 1k is a most buy and 1k-2k is a dip for eth, as you can see in weekly time frame eth trys to make a W pattern an bulls try to back at 1900$ 2000, 2500, 3500 and 4500$ are the most important resistance for Eth and huge opportunity for scalper traders
Long
by moonypto
6