ETH Ethereum Overbought Rejected by the ResistanceAfter gaining 50.50% in just 2 weeks, now ETH Ethereum was rejected by the $3250 resistance.
My price target is the $2900 support.
Looking forward to read your opinion about it.
Ethereum20
Ethereum may complete Cypher move for upto 61% rallyHi dear patrons, hope you are well and welcome to the new update on the Ethereum coin.
On the long-term weekly chart, the price action of the price action of Ethereum with Bitcoin pair,1st formed BAT pattern then Gartley and now completing the final leg of another bullish Cyhper pattern and soon it will be entered in potential reversal zone. On breaking down 25 SMA the move will be confirmed. There is 100 SMA in the potential reversal zone to provide good support.
this trade has a profit possibility of 61%, and the loss possibility is 14.5%.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
ETHUSD an expected Cup & Handle Can Lead it to $2200Hi friends, hope you are well and welcome to the Ethereum.
A powerful breakout:
Previously I shared two major moves with you in 2020. One was the Ethereum coin found a weak Ichimoku bearish cloud resistance on the weekly chart and it was expected that this time the Ethereum will breakout this cloud with a powerful bullish divergence.
The second was the big Gartley move on the monthly chart and the priceline was entered in the potential reversal zone of this harmonic pattern.
Finally, the price action of Ethereum coin started a powerful bullish move and rallied from $131 to $1150.
Now the price action is moving above the Ichimoku bullish cloud, and the bullish cloud is moved up at $750.
A big Cup & Handle formation is expected to hit $2200:
On the long-term monthly chart, the price action has formed a very big soft round shape move and found a resistance at $1150. If the price action will be rejected from here then a rally to the downside can complete the Cup & Handle bullish reversal move. This bearish rally can be up to the half of the bottom to the resistance of the Cup, which is $550 approximately. Now if we take the measurement of the hight of the Cup from the resistance to support, and place it at the breakout point then the next target can be $2200 at least.
The EMAs on weekly char and the combination of indicators and oscillators:
If the formation of handle starts then we can expect that the priceline of Ethereum can test the exponential moving averaged 21 on weekly time period chart, that is at $550 at the time of writing. I am also using some additional indicators to get more confirmations. Here I have placed the moving average convergence divergence (MACD), Stochastic and Momentum indicators. At the moment the Stochastic has given bear cross (sell signal) from the oversold zone, but we should wait for MACD and momentum indicators to turn bearish as well, then it can be a confirmation for the starting of correction rally that can complete the formation of the handle.
Conclusion:
If the price action of Ethereum will be rejected by $1150 resistance then it can form a big bullish reversal Cup & Handle that can lead the priceline to $2200 in coming days.
ETH bullish bounce & next resistance levels to watch for*DISCLAIMER: I am not a financial advisor and this is not financial advice as these are purely my opinions and speculations. I may also own or trade any of the symbols and cryptocurrencies mentioned in this video so do not make your trading or investing decisions based on this video. I do not guarantee any results nor am I responsible for your actions. You should always do your own due diligence before trading or investing in this market as it is extremely risky. Affiliate links are also included in this same video description section here and if you decide to support me by using any of them, I may receive a referral bonus or commission.
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Will ETH drop below $500?The infamous three-bar play. If you know it you know it if you don't, learn it.
Charts love to repeat themselves, take a look at these daily candles and tell me the setup isn't almost identical. a dropping RSI with a slight bump during the in-between the day of heavy bull and bear fighting.
Predictions?
SHORT
potential profit secured 10%
risk 5%
Let's see what happens
