ETHEREUM ( ETH/USD ) Latest Forecast - A Trade Worth PursuingGood day, traders! Please give me a moment to share my humble observation before we begin today's forecast on Ethereum.
It is humorous to see so many bullish technical analysis on TradingView today. If you look back just a few days ago, everyone here was so sure that Bitcoin and Alts would capitulate while I was the only contrarian telling people otherwise. I certainly don't remember seeing any self-proclaimed "best of the best" authors posting any charts or analysis to help either. They just conveniently disappeared and occupied themselves with "other pressing matters" during the hard times. Now that the grass is green again, you see them popping up in the field like lilies after the rain.
The only worth notable traders who consistently post good analysis when the going gets rough are people like TomProTrader, MarcPMarkets and HamadaMark. These are the people who are worth following and not those who mysteriously reappear when the trend is obvious. To my followers who were ridiculed and insulted simply by supporting me, please just ignore the trolls and haters next time. They are not worth your time.
Alright, let's get on with the forecast. As you can see in the 4-hour chart, price is currently resting on the 30-day MA (red line) after breaching the rising wedge bearish pattern. It appears to be slowly moving up to test the 10-day MA (blue line) resistance level. Before we jump into conclusion, let us evaluate the situation from a technical standpoint. MACD looks bearish and RSI is slightly above 50 but could turn bearish any time. Stochastic is close but still not in the oversold region. Given all that, I think the correction may continue until price finds itself in the key support level. If it holds, we may see a bullish continuation with an upside target of $650 - $670. On the other hand, a breach below it would upset the bullish momentum. I think we are looking at a good risk/reward swing trade if you plan on starting one. ;)
That’s all for now. Happy trading!
Ethereumanalysis
ETHEREUM ( ETH/USD Analysis ) - 418, The Last Line of DefenseJust got back from an 8-hour drive so I will make this very short. I am prioritizing this analysis because it requires special attention. What I am about to tell you is just a worse case scenario and maybe it won't happen at all so keep calm, my friends.
As you can see, price has again bounced off the falling wedge and make its way north which has tons of resistance, right? If we can break above those resistance and that upper purple line, then we get a home run.
However, if price were to stall and fall back into the falling wedge at any time, especially below $418, then all I can say is -- buy the dip! Again, this is just a worse case scenario so there is no need for panic but if it does happen, I can only imagine that BTC must have bungee jumped to $3k.
Why am I telling you this? I just want my followers and friends to be prepared for anything. More importantly, set your buys now around the buy-the-dip zone so you guys can brag about your trade entries when Ethereum goes to $1k later this year. Good luck and happy trading!
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ETCUSD - My Bearish OutlookSo from what I see Ethereum like Bitcoin is also forming a symmetrical triangle. Because I see both patterns as being very similar and the outcomes most likely similar I have just copied over most of my Bitcoin analysis.
In my Bitcoin chart that I just published, I explained how In most instances, the symmetrical triangle is a continuation pattern which unfortunately would mean more downside for Ethereum.
Symmetrical triangles also indicate a period of indecision in the market which plays out as a pattern that moves sideways as bulls and bears fight for dominance.
As you can see by the chart we are seeing classic signs of the symmetrical triangle or contracting wedge , there is the continued tightening or coiling of the consolidation pattern along with decreasing volume as the pattern tightens
and pressure builds so when the breakout does occur you can usually expect it to be accompanied by a large spike in volume .
Generally, with a symmetrical triangle, the breakout will occur near the 1/2 or 3/4 point of the pattern, to me, it looks like we are very near the 3/4 point so I would say a breakout is imminent.
Looking at the chart I can see pretty good support around the $500 level and if that does not hold I see even stronger support in the $400 area and then in the $300 area.
Just based off what I am seeing in the chart I am bearish in the short-term (weeks or months) but remain bullish long-term (years). I will be watching the price action closely for possible trade opportunities and also for opportunities
to pick up more Ethereum at discount prices to add to my long-term holdings.
New Lower High and rejection lowerThe price successfully made a Lower High on the 1D Channel Down (MACD = -16.120) and should be now rejected on the critical 609.80 point (RSI = 48.286). If it breaks to the upside then the pattern is nullified and we will look for alternative scenarios. However the most likely outcome is a new bearish 4H Channel (ROC = -2.615, ADX = 37.058) within the 1D Channel Down, similar to the previous week as seen on the chart. TP1 remains 487.07 (April 14 support) but the technical Lower Low and TP2 is 420.31. The last target is the 1W support = 357.60 and we will only target it after a Lower High is made.
Channel Down to 420.31Ethereum is on a clear 1D Channel Down (RSI = 42.411, MACD = -28.370, BBP = -69.0840) since the 721.07 Lower High (Highs/Lows = -15.2043). The drop for the next Lower Low will either take place now or at 609.80 (both short entries). Based on the 4H ADX = 28.911 the TP1 is 487.07 (April 14 support) but the technical Lower Low and TP2 is 420.31. The last target is the 1W support = 357.60 and we will only target it after a Lower High is made.
Ethereum (ETHUSD) bullish channel update: 4hr tfMy previous post on Ethereum can be found here:
It was mentioned in the post that Ethereum (ETHUSD) was likely going to test the bottom of its current bullish channel before any bullish action that would reach the upper line of the channel. Price action rather continued its bullish action breaking the upper line of the channel temporarily i.e. reaching the target area mentioned in the last post. Ethereum is currently at the bottom of the channel at ~$610.58.
Support beyond the bottom of the channel remains between ~$689.40 and $702.90 and the point of validation of this analysis (POI) is still kept as a price close below ~$541.75.
For Ethereum to maintain its current bullish progression, commitment by the bulls is necessary which = pushing prices back to the upper line of the channel as depicted by the red arrow.
The makes the new target area for Ethereum = between ~$702.83 and ~$725.06.
Price close below the bottom of the channel and also support as shown above could have further bearish consequences for Ethereum with price returning to ~$502.77 or even the high $400’s.
Lastly, the 4hr tf RSI is shown here and clearly does have a negative slope. This implies that the RSI is not confirming a bullish move yet for Ethereum and it is worth waiting for the 4hr tf RSI to bottom and/or resume a +ve slope upwards before starting to consider going long (buy).
Ethereum (ETHUSD): Patience required (4hr tf analysis)The price of Ethereum from ~$867.20 (March 5, 2018) to ~$461.12 on March 18,2018 has been identified in this analysis as the termination point of a minor wave Y and intermediate wave (Y). These imply that Ethereum will sustain a bullish momentum, even if temporarily.
Patience is required because it is safer to start considering long (buy) positions only after a 3 wave (correction) move against the current upswing to further confirm that the previous downtrend is over.
Assuming that the price of Ethereum doesn't close above its latest high (i.e. ~$590.11), long positions can be entered on a breakout above $590.11 after a 3 wave move from this pivot.
POI = Point of invalidation = price closing below $461.12.
Ethereum AnalysisBased solely on what we are seeing here, Ether has been on a downtrend but has managed to hold around the 50% retrace. This is very important resistance for Ether. If Ether can remain above this level it will become very bullish. Be expecting a high volume breakout from the trendline. If it can hold this level I can see it making a move for its all time high. Please LIKE if you agree, thanks!
\\:UPDATED:// ETH/USD - 4H Charts - Technical Analysis 26/02/18Dear Viewers,
This is an UPDATE of my previous 4 Hour Chart TA.
The 870$ resistance has fallen !
At this time, ETH is not longer in a Bearish mood, we can see that thanks to the RSI being above 50, but keep in mind that the MACD is still corssing down on the daily charts.
There is a possibility that ETH drops furthermore if it doesn't hold the 870$ position. If it doesn't succeed in going out of that yellow triangle by crossing upwards.
My mood is LONG for daily trading, but still neutral for a mid-term holder.
If ETH breaks through the 900$ resistance level, we will be on a journey to a A.T.H again.
DO keep a 1 Day chart open at all time to double check if the MACD is crossing back up again, normally it should, expect if the bulls can't hold the selling pressure at 870$.
Until ETH breaks out of that yellow triangle, we can't say that ETH is in a fully bullish mood yet. Keep you charts open.
If it does break through the triangle by going crossing upwards, it will go up to the new resistance level : 900$
The market is, as always, unpredictable.
The only thing we can do is to try to figure out WHAT COULD HAPPEN.
Thanks for reviewing my first analysis on trading view, don't forget to follow me and to leave behind any comments on what you think about this.
Raw_Blitz out.
ETH - Can the Uptrend Continue?Nice bounce off of the 100 SMA on the daily time frame I would really like to see ETH break above $900 here, although it may fail on its first attempt and need to bounce again off of the 100 SMA. Something will have to give eventually as the price gets squeezed between the $900 price level and the rising 100 SMA. Looking forward if ETH can manage to push back above $1000 IMO that would be huge, ETH looking good as long as it can stay above the 100 SMA.
My thoughts on ETHMy thoughts on ETH are pretty much the same as with BTC, (see the BTC chart I published today for my thoughts on BTC), pretty much since Jan. 13th ETH has been stuck in a 10:1 ratio with BTC. So I would expect if BTC rolls over and heads lower we will see the same from ETH, or if BTC keeps moving higher again I would expect ETH to do the same.
As I said in the BTC chart comments I am not yet convinced that the lows set on Feb. 5th (ETH) & 6th (BTC) are the bottom, as the chart shows I could see a double bottom as one possibility or ETH could head lower and set a lower low. Of course, another possibility is that the low on Feb. 5th really was bottom and we just keep moving higher.
ETH - My plan to Buy MoreAlong with Litecoin Ethereum has made a pretty good move over the last two days and I am tempted to add to my position. My plan though is to be patient and wait for a better price to buy. I would like to see ETH test the $400 support level again where I would buy or slowly drift lower to the long-term trendline where I would also buy.
SHORT ETHER - MID TERMThis is a perfect time for short ETHUSD. Apparently, price will be down for a while, moving towards support trend line. Wait for RSI indicator to confirm price movement. Addionatly, volume confirms an ETHUSD weak market (as you can see, while price is moving in a bullish trend, volume is moving in a bearish trend)!
SellNear: 460
- My Take Profit -
TakeProfit: 322
If you find this analysis helpful, don´t forget to like and comment! :)
Ethereum - Ascending triangle still in playAfter the glorious rally from 8 USD up to 420 USD within less than six months, Ethereum is in a consolidation since early June.
It looks as if this consolidation takes the form of a bullish ascending triangle, which means that a breakout above 400 - 420 USD will likely initiate the next furious big up-leg.
If you add the height of the triangle to the potential break-out point around 420 USD, the next price target for Ethereum would be around 1,300 USD !!!
On the downside, the zone between 220 and 240 USD must hold, otherwise the triangle formation becomes invalid. The 200 EMA currently at 235 USD is increasing the support in this zone.
The Ethereum chart looks pretty bullish but may need some more time.
ETH forming Ascending Right Triangle with target of $406New ATH on the table for Ethereum (ETH) as the price is forming a prominent ascending right triangle with a minimum target of $406.
After a 5 waves impulse from $197 to $300, ETH corrected with a complex ABCDE triangle which is expected to complete a higher degree Wave II at also $300 approximately.
Actually a break of the support trendline above $285 could actually mean a bullish wick, and the price could explode stronger.
Let's see how it turn out to be.