ETH Ethereum bearish chart patternETH Ethereum exited the Bearish Pennant Chart Pattern and it is heading lower.
My Price Target is $1057.
Looking forward to read your opinion about it.
Ethereumanalysis
Ethereum Analysis 08.12.2022Hello Traders,
welcome to this free and educational analysis.
I am going to explain where I think this asset is going to go over the next few days and weeks and where I would look for trading opportunities.
If you have any questions or suggestions which asset I should analyse tomorrow, please leave a comment below.
I will personally reply to every single comment!
If you enjoyed this analysis, I would definitely appreciate it, if you smash that like button and maybe consider following my channel.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis:
#Ethereum Slips, ETH Sharply Rebounds from Around $1.35kPast Performance of Ethereum
For a moment, Ethereum traders expected much more from buyers. However, from the current state of affairs, it is only until ETH breaks above critical resistance. The sell wall is at $13.5k. Bulls need to overcome this tremendous liquidation line for uptrend definition.
#Ethereum Technical Analysis
Like Bitcoin, Ethereum is trending lower. Per the formation in the daily chart, the immediate trend is more defined. Technically, ETH prices are within the November 9 bearish engulfing bar. Accordingly, from a volume analysis, coupled with the failure of ETH prices to pull higher above $1.35k—or the November 9 high, sellers are in control. This formation allows aggressive traders to align with the dominant trend, selling on pullbacks and targeting $1.1k or November lows. This preview will hold, especially if ETH closes lower by today's end, below the November 30 low, unwinding gains made at the tail end of last month. The forecast will remain as it is unless there are sharp gains above $1.35k, ideally with expanding trading volumes pointing to increasing participation. Then, bulls will have shaken off the bears of November, possibly setting the foundation for a leg up towards $1.5k or better.
What to Expect from #ETH?
Ethereum remains resilient, fundamentally. Still, ETH prices don't reflect this state of affairs. ETH remains range bound and bearish. This will be the status until prices break out from the current consolidation.
Resistance level to watch out for: $1.35k
Support level to watch out for: $1.1k
Disclaimer: Opinions expressed are not investment advice. Do your research.
ETH Daily TA Cautiously BearishETHUSD daily guidance is cautiously bearish. Recommended ratio: 35% ETH, 65% Cash.
*Risk-On markets continue to get shellacked by a combination of: expectations of rising central bank interest rates through the first half of 2023 (and perhaps beyond) and continued supply chain disruptions due to more sanctions on Russia (which influences BRICS and OPEC+) and a massive reduction in US/China trade that is currently underway. Turkey has begun to ask for proof of insurance from Russian oil tankers now that Western insurers have been stepping away, this has reportedly caused a bit of a backlog in the Bosphorus Straits. Any earnings reports are essentially a non-factor considering that many of the forecasts point to decreases in top and bottom lines across many of the heaviest weighted industry sectors for Q4 and 2023.
Putin said today that the risks of nuclear war are growing as needs for Russia to potentially use them as a "deterrent" are also growing . I really hope that this guy is taken out from inside, anybody who makes these kinds of threats that could potentially wipe out a majority (if not all) of their own people in response does not deserve to be a country's leader. Russian people should be just as scared as Ukrainians if this is the route Putin decides to take.
VIX, EURUSD, GBPUSD, JPYUSD, CNYUSD, Metals, Natural Gas, DJI Futures and Agriculture (mixed). DXY, US Equities, US Equity Futures (mixed), US Treasurys, Cryptos, NI225, N100 and HSI are down.
Key Upcoming Dates: US November PPI 830am EST 12/09; US November CPI 830am EST 12/13; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14; US November New Residential Construction at 830am EST 12/20; US Final Q3 GDP Estimate at 830am EST 12/22; US November PCE Index at 830am EST 12/23; UofM Consumer Sentiment Index at 10am EST 12/23. *
Price is currently trending down at $1232 and risks losing $1270 minor support if it closes below $1230 in today's session. Volume is currently Moderate (low) and on track to favor sellers if it closes today's session in the red, it has been alternating between buyer and seller dominance in the second largest supply/demand zone over the past week. Parabolic SAR flips bearish at $1085, this margin is mildly bearish at the moment. RSI is currently trending down at 47 and fell back into the Symmetrical Triangle (ST) from February 2020 in today's session, the next support is the lower trendline of the aforementioned ST at ~39. Stochastic remains bearish and is currently trending down at 68, the next support is at 62. MACD remains bullish and is currently forming a soft peak as it begins to trend down at -11, it would have to fall below -24 to crossover bearish at the moment. ADX is currently trending down at 28 and is beginning to form a soft trough as Price continues to see selling pressure, this is mildly bearish at the moment.
If Price is able to bounce here and trade back above $1270 minor support then it will likely aim to retest the 50MA at $1329 as resistance (which should coincide with the upper trendline of the descending channel from November 2021. However, if Price continues to fall here, it will likely retest the local low of $1100 as support before potentially retesting $1000 minor support for the first time since July 2022. Mental Stop Loss: (one close above) $1270 .
Ethereum Price Prediction Update ($600)Along with Bitcoins PA, I see this as the top for ETH, I see more downside from here, with a SMT divergence with Bitcoin. Testing Testlines and Bullish PA is going weaker. I think we will see lower lows very soon for ETH.
I am shorting from here NFA.
Ethereum price hints at possible growthIn November, when the BTCUSDT price updated the 2022 low, ETH buyers did not allow the price to update the annual low.
In November, the fall of the ETHUSDT price stopped in the liquidity zone of $1000-1250. This zone has played an important role in supporting buyers since 2021.
In the near future, Ethereum buyers have an important task to fix the Ether price above the liquidity zone, that is, above $1250
So, in the event of a "positive" in the cryptocurrency market, we have the following assumption of the possible movement of the ETHUSD price:
Growth to $1540 - correction to $1200-1250 - growth to $1900
_____________________
Did you like our analysis? Leave a comment, like, and follow to get more
Ethereum Analysis 03.12.2022Hello Traders,
welcome to this free and educational analysis.
I am going to explain where I think this asset is going to go over the next few days and weeks and where I would look for trading opportunities.
If you have any questions or suggestions which asset I should analyse tomorrow, please leave a comment below.
I will personally reply to every single comment!
If you enjoyed this analysis, I would definitely appreciate it, if you smash that like button and maybe consider following my channel.
Thank you for watching and I will see you tomorrow!
ETH Daily TA Neutral BullishETHUSD daily guidance is neutral with a bullish bias. Recommended ratio: 60% ETH, 40% Cash .
* The November Unemployment Rate somehow stayed at 3.7%, with Nonfarm Payrolls increasing by 263k ... in the face of ramping layoffs and hiring freezes, this is pretty astonishing. The Federal Reserve has got to be wondering how the job market has remained so resilient with a dramatic slow down in demand due to a shrinking Fed balance sheet and rising federal funds rate. Though it has yet to be seen whether the narrative has changed on a potential slowdown in rate hikes starting on 12/14 (from 75bps to 50bps).
The Committee on Agriculture, Nutrition and Forestry held a hearing today on the FTX collapse ; you read that correctly, this is currently the Senate committee most responsible for overseeing Crypto regulation through the independent agency CFTC (which the committee created in 1974 to handle currencies and other nonagricultural assets). SBF is said to have met with the CFTC 10 times in the past 14 months . SBF was interview by Good Morning America on 11/30 and denied improper use of customers' funds ; this will likely come back to bite him in the ass if regulators finally get around to compiling all of the evidence against him. For one, he told Andrew Ross Sorkin at the NY Times DealBook Summit that he first "really knew there was a problem on November 6th" (start at 22 minutes) , which directly contradicts a since-deleted Tweet on 11/07 assuring people that "FTX is fine. Assets are fine" and that it was just a malicious attack by a competitor . Secondly, he claims to have no idea how his parents were listed on the deed for a $16.4m property in the Bahamas that was intended for FTX staff . US House Rep Maxine Waters candidly invited SBF to participate in the US House Committee on Financial Services hearing on 12/13 .
US Treasury Bills, US Short-Term Bonds, Silver, CNYUSD, JPYUSD, GBPUSD and EURUSD are up. DXY, US Long-Term Bonds, US Equities, US Equity Futures, Cryptos, Commodities, VIX, HSI, N100, and NI225 are down.
Key Upcoming Dates: US November PPI 830am EST 12/09; US November CPI 830am EST 12/13; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14; US November New Residential Construction at 830am EST 12/20; US Final Q3 GDP Estimate at 830am EST 12/22; US November PCE Index at 830am EST 12/23; UofM Consumer Sentiment Index at 10am EST 12/23. *
Price is currently forming a minor Ascending Triangle pattern at ~$1290 as it continues to hover above $1270 minor support, the next resistance is the 50MA at ~$1333. Volume finished today's session Moderate and favored buyers (it has favored buyers in three of the past five sessions), it's currently on track to favor sellers if it closes tomorrow's session in the red. Parabolic SAR flips bearish at $1067, this margin is bearish at the moment. RSI is currently trending down slightly at 53 after being rejected just below 55.31 resistance, the next support is the upper trendline of the Symmetrical Triangle from February 2020 at ~50. Stochastic is currently crossing over bearish at 95 after forming a Double Top at max top (it is still trending in the 'bullish autobahn' so this isn't a bearish indicator yet). MACD remains bullish and is currently trending up at -14, the next resistance is at 27.77. ADX is currently trending down at 31.46 as Price is attempting to push higher, this is mildly bearish at the moment.
If Price is able to push higher then it will likely test the 50MA at ~$1333 as resistance before potentially retesting the upper trendline of the descending channel from November 2021 at ~$1375 as resistance . However, if Price breaks below $1270 minor support , it will likely retest ~$1100 as support before potentially retesting $1000 minor support . Mental Stop Loss: (two consecutive closes below) $1269 .
Local highs are decreasing. We broke through the inclined levelLocal highs are decreasing. We broke through the inclined level, secured lower and went to the retest with a large shadow. Got a response from the POC level. Volumes are falling. I expect a return to the mirror level. Goal - 1228$
ETH Ethereum: 1D Chart UpdateToday you can review the technical analysis idea on a 1D linear scale chart for Ethereum (ETHUSD).
Ethereum is inside a triangle looking to complete a formation of a potential Bear Flag Pattern. The measured move of the Bear Flag formation is under $600. The price currently has two paths by either staying inside the triangle until completion or headed down.
I think the $600 range may be resting place before more downside based on my prior ETH charts.
I have been calling drops on crypto since November and December of 2021. I am more concerned than before that more drops are coming. Be careful.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #millionaireeconomics
ETH Daily TA Cautiously BullishETHUSD daily guidance is cautiously bullish. Recommended ratio: 65% ETH, 35% Cash.
* CRITICAL RESISTANCE WATCH . China's refusal to adapt to the reality that the virus they helped introduce to the world likely cannot and will not ever be eradicated weighed on markets yet again in a short trading day for US Equity and Bond markets. TBH I hope there is more upheaval and that Chinese citizens are able to overcome this lockdown battle that is frivolous at best. This may have bled out into Crypto markets but it was rather temporary if it did.
Cryptos, Equity Futures, DXY, Long-Term US Treasurys, Gold, Agriculture, N100 and VIX are up. US Equities, Energy, EURUSD, GBPUSD, JPYUSD, CNYUSD, HSI, NI225 and Short-Term US Treasurys are down.
Key Upcoming Dates: US Consumer Confidence Index at 10am EST 11/29; 2nd BEA Estimate of US Q3 GDP at 830am EST 11/30; Fed Chair Jerome Powell speech at Brookings Institute at 130pm EST 11/30; Beige Book at 2pm EST 11/30; October PCE Index at 830am EST 12/01; November Employment Situation at 830am EST 12/02; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14. *
Price is currently trending up at $1220 as it approaches a retest of $1270 minor resistance. Volume finished yesterday's session favoring sellers and is on track to favor buyers if it can close today's session in the green; it has been shrinking for 5 consecutive sessions now which is indicative of an impending breakout/breakdown. RSI is trending up slightly at 45 as it approaches a test of the descending trendline from February 2020 at 50 as resistance. Stochastic remains bullish and is currently forming a soft peak at 98 as it approaches a test of max top for the first time since September 2022. MACD crossed over bullish in today's session and is currently trending up at -61, the next resistance (minor) is at -46. ADX is currently trending down slightly at 46 as Price is pushing higher, this is mildly bullish at the moment.
If Price is able to continue higher then it will likely retest $1270 minor resistance before potentially retesting the 50MA at ~$1343 as resistance which should coincide with the uptrend line from June 2022 (as resistance). However, if Price breaks down here, it will likely fall back to $1100 before potentially retesting $1000 minor support . Mental Stop Loss: (one close below) $1100 .
Ethereum Analysis 22.11.2022Hello Traders,
welcome to this free and educational analysis.
I am going to explain where I think this asset is going to go over the next few days and weeks and where I would look for trading opportunities.
If you have any questions or suggestions which asset I should analyse tomorrow, please leave a comment below.
I will personally reply to every single comment!
If you enjoyed this analysis, I would definitely appreciate it, if you smash that like button and maybe consider following my channel.
Thank you for watching and I will see you tomorrow!
ETH Ethereum: $600 Range IncomingToday you can review the technical analysis idea on a 1D linear scale chart for Ethereum (ETHUSD).
Ethereum is inside a triangle looking to complete a formation of a potential Bear Flag Pattern. The measured move of the Bear Flag formation is under $600. The price currently has two paths by either staying inside the triangle until completion or headed down now. Interestingly MFI (Money Flow Index) shows an uptick in the short term and the RSI is at a support point.
I think the $600 range may be resting place before more downside based on my prior ETH charts.
I have been calling drops on crypto since November and December of 2021. I am more concerned than before that more drops are coming. Be careful.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #millionaireeconomics
ETH Daily TA Neutral BullishETHUSD daily guidance is neutral with a bullish bias. Recommended ratio: 52% ETH, 48% Cash.
* BOUNCE WATCH . BlockFi admitted to having significant exposure to FTX (and associated companies) and are considering filing for bankruptcy after the Founder/COO Flori Marquez announced that they had enough liquidity to remain fully operational on November 8th . Liquid Global, a Japanese exchange owned by FTX has paused withdrawals. SALT, a crypto lending firm, has also paused deposits/withdrawals in the wake of the FTX collapse. It's very hard to say how much of the meltdown has been priced in after such a drastic and impulsive drawdown, but it seems premature to think that the spillover from the FTX/Alameda collapse is over. US October PPI increased less than expected, fueling more theories that inflation is subsiding enough for the Fed to slow its pace of rate hikes. Donald Trump just announced he intends to run for US President again in 2024.
Cryptos, Long-Term US Treasuries, GBPUSD, EURUSD, Metals, Natural Gas and Equities are up. DXY, VIX, Equity Futures, CNYUSD, JPYUSD, HSI, NI225, Oil and Agriculture are down.
Key Upcoming Dates: Fourth GDPNow Q4 GDP estimate 11/16; US October Retail Sales at 830am EST 11/16; US October Building Permits and Housing Starts at 830am EST 11/17; Russia/Ukraine Grain Deal Expiration on 11/19; 2nd Estimate of US Q3 GDP at 830am (EST) 11/30; October PCE Index at 830am EST 12/01; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14 . *
Price is currently testing $1270 minor resistance for the sixth consecutive session. Volume remained High (moderate) in yesterday's session and is currently on track to favor buyers for a third consecutive session if it can close today's session in the green; Price is currently testing the second largest VP supply/demand zone on the chart. Parabolic SAR flips bullish at $1522, this margin is bullish at the moment. RSI is currently trending up slightly at 43 after bouncing off of the uptrend line from October 2018 (as support) just above 37 support. Stochastic remains bullish and is currently trending up at 33 after denying a bearish crossover at 31, the next resistance is at 47. MACD remains bearish and is currently forming a soft trough at -46 minor support. ADX is currently trending up slightly at 37 as Price attempts to push higher, this is mildly bullish at the moment.
If Price is able to break above $1270 minor resistance then it will likely retest the uptrend line from June 2022 at ~$1340 as resistance . However, if Price is rejected here, it will likely retest ~$1225 as support before potentially retesting $1k minor support . Mental Stop Loss: (one close below) $1225.
#Ethereum bear momentum strong, ETH Resistance at $1.35kPast Performance of Ethereum
There was a welcomed pullback on November 10, offering Ethereum bull relief. However, Ethereum bears remain in control, and the coin is down roughly 25 percent in the past trading week. As it is, every high remains an opportunity to unload ETH with targets at Q3 2022 lows at around $900 in the coming few weeks.
#Ethereum Technical Analysis
Ethereum bears are in control, and the coin within a bear breakout formation reading from the formation in the daily chart. Notably, ETHUSDT is within the November 9 bear candlestick range, and trading volumes are lower than those of early last week. Therefore, from a volume analysis, bears have the upper hand, especially if prices are below $1.35k or November 9 highs. Since sellers are dominant, prices are in range mode, and the market is apprehensive, every high below $1.35k may be an opportunity for traders to hitch the ride, targeting $1.1k in the short term. Further losses may force ETH towards June 2022 lows at $900 in a bear continuation formation.
What to Expect from #ETH?
Sellers are in charge, and Ethereum prices are on weak ground, reading from ETHUSDT alignment in the daily chart. In the sessions ahead, traders should watch how prices react at $1.35k. Any breach could lift ETH towards $1.4k—or better, while deep losses below last week's lows could spook the markets.
Resistance level to watch out for: $1.35k
Support level to watch out for: $1.1k
Disclaimer: Opinions expressed are not investment advice. Do your research.
ETH Daily TA BearishETHUSD daily guidance is cautiously bearish. Recommended ratio: 5% ETH, 95% CASH.
Happy Veterans Day to those who served.
* MASS CRYPTO DELEVERAGING WATCH. The FTX/Alameda meltdown isn't over yet, and keeps getting crazier with speculation that the troubles at Alameda Research started to amplify after the LUNA death spiral caused SBF to funnel funds from FTX to Alameda and to "altruistically" acquire the insolvent exchanges and lending firms that were overly exposed in order to protect Alameda's own FTT-collateralized loans. The fact that Alameda was essentially comprised of 9 drug-fueled lovers living in the Bahamas is astonishing enough, but even weirder is that both of SBF's parents are "regulatory compliance experts". One thing about this that perhaps changed how it all could've gone down was CZ's (Binance) involvement. I'm under the impression that the crypto crash wouldn't have been so sudden and widespread if CZ wouldn't have tweeted about FTX's struggles, how he was looking to rescue them and then labeling them beyond rescue all within the span of two days. I totally get that CZ likely did it for brand posturing and marketing but he may have also benefited from the massive price increase to BNB after the initial tweet offering to acquire FTX. Fair game though. It's a bit too early to try to predict the end of this mass deleveraging that is currently taking place throughout the Crypto industry and more industry players may go down from this in the coming days, so it's suggested to stay in cash until there's some kind of light at the end of the tunnel. The UofM November Consumer Sentiment Index is 54.7, down from 59.9 in October and likely reflective of the political shift from the Midterm elections.
Key Upcoming Dates: Fourth GDPNow Q4 GDP estimate 11/16; Russia/Ukraine Grain Deal Expiration on 11/19; 2nd Estimate of US Q3 GDP at 830am (EST) 11/30; October PCE Index at 830am EST 12/01 ; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14 . *
Price is currently testing $1270 minor resistance for the third consecutive session after breaking below the 50MA and the uptrend line from June 2022. Volume finished yesterday's session High (moderate) and is currently on track to favor sellers for a second consecutive session if it closes today's session in the red; Price is currently testing the second largest VP supply/demand zone on the chart. Parabolic SAR flips bullish at $1600, this margin is bullish at the moment. RSI is currently trending down at 40 after forming a peak at 43 and will likely aim to test the uptrend line from November 2018 at 37 support in the coming sessions. Stochastic remains bullish and is currently trending up at 33 with no signs of peak formation, it's still technically testing 23 resistance. MACD remains bearish and is currently trending down at -25 as it approaches -46 minor support with no signs of trough formation. ADX is currently trending up slightly at 32 as Price continues to see selling pressure, this is bearish at the moment.
If Price is able to breakout above $1270 minor resistance then it will likely aim to formally retest the 50MA at ~$1395 as resistance . However, if Price is rejected here, it will likely formally retest $1k minor support before potentially falling lower to $776 minor support. Mental Stop Loss: (two consecutive closes above) $1300.
ETH is possibly going for a retest of $1500 and $1400We gave you the targets for ETHEREUM in our last post.
After hitting our first target it seems like ETH is getting weak & RSI needs a retest we might see ETH going back for a pullback towards $1500 or possibly $1400 region.
Ethereum also recently broke our of downtrend and we have a huge gap at $1400 area that needs to be filled before more upside.
If you are looking for longs I would advice you to wait for a decent pullback towards the last breakout zone & then go long.
All the important levels are marked on the chart.
Enjoy Trading.
(press like 👍 if you enjoy + comment your opinion about the market or your thoughts, below this analysis)
ETH Daily TA Neutral BearishETHUSD daily guidance is neutral with a bearish bias. Recommended ratio: 40% ETH, 60% Cash.
* CRITICAL RESISTANCE/SUNDAY SCARIES WATCH . Cryptos are struggling to keep the bullish momentum going over the weekend as the post-FOMC rally (fueled by a robust October Jobs Report) tries to carry over into next week's big CPI report on Thursday (11/10). Chinese President Jinping stated the obvious Friday , that the world should do their best to avoid nuclear war; he did this without mention of Russia. Key Upcoming Dates: Third GDPNow US Q4 GDP Estimate 11/09; US October CPI at 830am EST 11/10; UofM November Consumer Sentiment Survey at 10am EST 11/11; Russia/Ukraine Grain Deal Expiration on 11/19; 2nd Estimate of US Q3 GDP at 830am (EST) 11/30; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14 .*
Price is currently testing the upper trendline of the descending channel from November 2021 as resistance, which coincides with the 100MA, at ~$1650; both resistance levels are just below $1711 minor resistance, hence why this is a critical juncture. Volume was Moderate (moderate) in yesterday's session and ended a two day streak of buyer dominance by finishing in the red. Price has broken above the VP POC and is now trading in the third largest supply/demand zone on the chart. Parabolic SAR flips bearish at $1520, this margin is mildly bearish at the moment. RSI is currently forming a trough as it trends sideways at 65, just above 63 minor support. Stochastic remains bullish for a second consecutive session and is currently trending up at 73, the next resistance is at 81. MACD is currently forming a soft peak at ~73, if it falls below 57 it would be a bearish crossover. ADX is currently trending up slightly at 31 as Price is attempting to push higher, this is mildly bullish at the moment.
If Price is able to breakout above the upper trendline of the descending channel from November 2021 + the 100MA at ~$1650 as resistance , it will have to get above $1711 minor resistance to confirm that it has broken out of the year-long descending channel. However, if Price is rejected here, it will likely retest the local low of ~$1500 as support before potentially retesting $1427 support . Mental Stop Loss: (two consecutive closes above) $1711.
Ethereum ETH bullish ahead of the FOMC Press ConferenceI am bullish on Ethereum ETH ahead of the FOMC Press Conference.
Those are my price targets:
ETH/USDT
Entry Range: $1550 - 1600
Take Profit 1: $1710
Take Profit 2: $1870
Take Profit 3: $2030
Stop Loss: $1385
#Ethereum in a Bullish Breakout Formation, ETH Support at $1.5kPast Performance of Ethereum
Ethereum prices might be up 27 percent from Q3 2022 lows. However, from the ETHUSDT daily chart, prices are cooling off, and buyers need to overcome immediate resistance levels for trend continuation. Of note, there is a liquidation line at around $1.7k that bulls must conclusively break above with expanding trading volumes for last week's buyers to flow back and thrust ETH prices toward $1.8k.
#Ethereum Technical Analysis
ETH is bullish in the short term. The immediate support levels are at $1.4k—the resistance line of the BB Squeeze—and $1.5k. On the upper end, the lid is at $1.7k. Besides, there are lower lows from the upper BB, an indicator of tapering upside momentum. However, buyers have the upper end since ETH prices are within a bullish breakout formation and in range inside the bull bars from October 24. Still, this forecast is only valid as long as prices are above $1.4k and $1.5k. Losses below $1.5k may force ETH back to $1.4k in a retest, potentially pouring cold water on the warming ETH prices and bulls. Based on the current formation, ETH buyers can load the dips with targets at $1.8k. Alternatively, they can wait for a close above $1.7k before ramping up, targeting $2k in a buy trend continuation formation.
What to Expect from #ETH?
Ethereum traders are confident. However, the upside momentum may fizzle, and buyers could begin liquidating if there is a drop below $1.5k. On the flip side, ETH may surge if buyers break above last week's high, as mentioned earlier.
Resistance level to watch out for: $1.7k
Support level to watch out for: $1.5k
Disclaimer: Opinions expressed are not investment advice. Do your research.
ETH Daily TA Neutral BearishETHUSD daily guidance neutral with a bearish bias. Recommended ratio: 40% ETH, 60% Cash.
* FOMC WATCH . Cryptos are mixed with some altcoins up but most large-caps down. Equities, Equity Futures, JPYUSD, CNYUSD, GBPUSD, EURUSD, Gold and Oil are also down. DXY, US Treasuries, Agriculture, Nat Gas and VIX are up. Both Apple and Microsoft's top and bottom beat didn't do much to quell the selling pressure leading up to the upcoming FOMC meeting. Speculators are still betting on a 75bps rate hike, but given the still high inflation numbers and retail data it wouldn't be all too surprising to see a 100bps hike. Russia's recent move to pause the grain deal with Ukraine and the upcoming European winter are likely to both keep pressuring inflation. Key Upcoming Dates: 2nd GDPNow US Q4 GDP estimate 11/ 01; FOMC Statement at 2pm EST 11/02; October Employment Situation at 830am (EST) 11/04; 2nd Estimate of US Q3 GDP at 830am (EST) 11/30.*
Price is currently trending down at ~$1560 after forming a soft-peak just below the 100MA which coincides with $1711 minor resistance and the upper trendline of the descending channel from November 2021; the next support is at $1427. Volume is currently High (low) and on track to favor sellers for a second consecutive session if it can close today's session in the red. Parabolic SAR flips bearish at the 50MA (~$1365), this margin is mildly bearish at the moment. RSI is currently trending down and testing 63.17 minor support with no signs of trough formation. Stochastic remains bearish after defying a bullish crossover and is currently trending down at 87 as it approaches 81 support. MACD is currently trending up slightly at 63.76 as it's beginning to form a soft peak, it's still technically testing 28 resistance. ADX is currently trending up slightly at 31 as Price pushes higher, this is mildly bullish at the moment.
If Price is able to bounce here then it will likely retest the 100MA + the upper trendline of the descending channel from November 2021 at ~$1711 minor resistance before potentially breaking out of the descending channel. However, if Price continues down here, it'll likely retest $1427 support before potentially retesting the 50MA + the uptrend line from 06/18/22 as support at ~$1375. Mental Stop Loss: (two consecutive closes above) $1711.
ETH/USD ETHEREUM SELL ANALYSISLooing at ETHEREUM on 4H timeframe
We looking for a possible SELL/SHORT position
We looking for a possible downward at this distribution phase
New Lows Loading
Our Target is around $700
ETHEREUM ETH price potential for growth near 40%The ETHUSDT price is behaving quite technically.
During the last month of trading, Ethereum buyers did not allow the price to fall below $1250 while retesting the strong liquidity zone from above.
This is a good signal of serious intentions and strength of buyers, and accordingly, a signal of possible future growth.
Today, ETHUSD broke through the first local trend line and is trying to consolidate above it.
A set of ETHUSDT longs from $1400-1450 is now justified and looks safer.
The potential for growth is in the area of $2000-2100. In our opinion, it will be difficult for Ether price to break above $2000-2100 the first time.
After all, $2000-2100 is a strong liquidity zone, which in 2021 has repeatedly acted as support, and in 2022 - as resistance from above. There is also a trend line in this range, which is the main resistance of sellers and indicates a downtrend for a year since November 2021.
_____________________
Did you like our analysis? Leave a comment, like, and follow to get more
