ETHUSD Reaching Higher LOWS - Verge of BREAKOUTIn the last two days, ETHUSD has made significant higher lows to reach over 600$ which is a very refreshing time for ETH HODLers and Traders. While comparing to the BITBAY:BTCUSD reaching it's All time high, ETH still has a long way to go to break it's ATH from 2-3 yearsa ago.
We had a similar breakout on Nov 18th-19th after a good consolidation. Currently the charts indicate a converging candle stick chart as the range reduces into a squeeze.
Ethereumlong
ETH on HUOBI dumps - but Ethereum 2.0 on the way! Ethereum would need to avoid a fall through the pivot level at $590.23 to support a run at the first major resistance level at $630.46.
Support from the broader market would be needed, however, for Ethereum to break out from Monday’s high of $611.43.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of another breakout, Ethereum could test resistance at $650 before any pullback. The second major resistance level sits at $651.66.
Failure to avoid a fall through the $590.23 pivot would bring the first major support level at $569.03 into play.
Barring an extended sell-off, however, Ethereum should steer clear of sub-$550 levels. The second major support level sits at $528.80.
Looking at the Technical Indicators
First Major Support Level: $569.03
Pivot Level: $590.23
First Major Resistance Level: $630.46
23.6% FIB Retracement Level: $486
38.2% FIB Retracement Level: $409
62% FIB Retracement Level: $283
ETH Retest of ResistanceThe last month ETH and other alt coins have been lacking BTC, It seems that ETH is now trying to catch up.
On November 6th ETH broke through the trend line that has acted as both support and resistance since the beginning of August (white 1.0 line in the fib. channel). There has been some accumulation above the trend line for the last 10 days which shows strength of the breakout. Yesterday ETH has retested the trend line and has since shown a decent bounce. If ETH find support here, it could continue to the upside, possible taking out the local highs.
Profit Taking Levels:
488,95 -> Local Highs (Sep 1)
Around 585 -> Fib 2.618
Stoploss:
425 -> Break of Trend Line
Ethereum long target at $600 after establishing support above ke
Ethereum eyes $600 but stalled at $584 to seek higher support before resuming the uptrend.
ETH/USD least resistance path seems upwards ahead of the immense support expected from the launch of ETH 2.0.
Ethereum price is doddering at $554 following a minor retreat from new yearly highs at $584. The largest altcoin was catapulted extensively above $500 over the last weekend. Ether had not traded at this price level since 2018.
The bull’s aim was $600 but the rally was cut short to allow buyers to find formidable and higher support. ETH/USD uptrend has taken a breather as highlighted by the Relative Strength Index. Stability appears to have returned to the market mainly due to the low trading volume.
Holding above $550 remains the bulls’ key priority. From here, they have a better standing to plan on how to get to the next rendezvous at $600. It is essential to realize that buying pressure behind Ethereum may increase as the network draws closer to ETH 2.0 launch.
Vitalik Buterin, the co-founder of Ethereum assured the community that the thresholds set for staking and number of nodes will be achieved before the deadline. Most analysts believe this launch is critical for Ether both as a digital currency and as a smart contract platform.
For now, the path with the least resistance is upwards especially with support at $550. Trading above the recent high at $584 would boost the price above $600. Moreover, this feels like a conservative prediction based on the immense support ahead of the smart contract giant.
The bullish narrative will be invalidated if Ethereum closed the day under $550. On the downside, the next short-term support lies at $520. Extended downside price action would seek support between $480, $490, the 50 SMA and 100 SMA, Moreover, the oversold levels of the RSI suggest that a reversal is likely.
Ethereum Intraday Chart
Spot rate: $561
Percentage change: 0.2%
Relative change: 1
Trend: Bullish
Volatility: Low
Yet another ETH ideaAn idea that just came to my mind. Maybe it will repeat ascending triangle pattern.
If BTC price stabilize, it would mean $800-$1000 target for early 2021.
Maybe an ATH retest will occur.
I can't see it going higher faster than that, we should wait 1 whole year to see another BTC pair ATH.
ETHEREUM PUSHING UP TO MOON SOON DONT MISS!! BEST ENTRY LEVELSI am expecting price to to reach 482$ or lower before heading towards more higher target. Overall we are totally bullish as price is above 200ma and continues to push up we also had breakout of trendline and which is why i am potentially looking for a retest you can say.. For long term i am seeing ETHEREUM above 900$ levels.
Once upon a time in the Ethereum era!In 2015, after 10 years of activity in the Forex financial markets, I became acquainted with the crypto market. At that time, Ethereum was around $ 40 and Bitcoin was near $ 500. Since 2013, I have concluded that Elliott waves make the best predictions and have the least risk.
At a conference in the Forbidden City of Financial Markets and between a crowd of over 100 people, I did my best to introduce them the hidden power of cryptocurrencies, if anyone thinks about the future, and if anyone is looking for the beauties of life under the momentums of this market and its direction. Many shames, as the Gold and Silver of cryptos (Btc & Eth) hit all the targets and I received only sarcasm from that group of 100 people.
The chart is evident enough.
Hoping everyone a sweet dream and endless happiness on this blue planet
Weekly Chart
All eyes on EthereumWhile Bitcoin has been the star of the Crypto Markets the last couple months,
Ethereum has been slowly consolidating upwards in a rising channel, Although Ethereum has been performing really well this year through Mid year till now.
But now looking at ethereum to me it looks like it wants to go, Once we clear that first order block all eyes will be on ethereum's all time high price and beyond
$ETHUSD - Eth 2.0 DilemmaHi guys! 👋🏻
🔔 Ethereum is ongoing a historical metamorphosis of it’s network transitioning from the PoW to the PoS consensus. To start the chain, the deposit contract should receive a total number of 524,288 ETH from validators, total 16,384 deposits (32 Eth each) by November 24.
🔔 So far the deposit contract address on a popular transaction scanner shows that only 50,401 Eth worth of $22,787,804.13.
🔔 Looks like ETH holders are still couunting on the soar of the ETHUSD and are looking to make profit from trading.
🔔 As seen on the chart, ETH/USD has formed a symmetrical triangle pattern. As a general rule, one should follow the price action of the pair and wait for a breakout from either threshold of the triangle. Since, the price currently is holding near the upper threshold, breakout could be confirmed anytime soon.
🔔 Key level to watch if the breakout from the ascending channel is confirmed is $477-$500, if the price breaks the lower threshold of the triangle, the price might as well drop to $431 and below that to $416.
🔔 Ethereum’s price surge was not mainly supported by the Eth 2.0 transition, although it played a significant role, but was rather backed by the weakening US Dollar and uncertainties in the market followed by the US Presidential Elections. The election is still not over and the tension still remains, especially over Biden’s stimulus plans and Trump’s lawsuits, hence the price of Ethereum might as well continue to grow.
🔔 The postponement of the Eth 2.0 launch may hit the price, hence I highly recommend you guys to stay up to date to the Ethereum announcements on November 24, it's only 2 weeks away and 10X ETH are required, achievement of which is under a huge "?" mark.
✊🏻 Good luck with your trades! ✊🏻
If you like the idea hit the 👍🏻 button, follow me for more ideas.
ETHEREUM - $ETH - Wave 3 - To the moon is too close, go beyond!WAVE 3 in progress! The best time to buy is now!
I'm LONG / BULLISH position. I expect that ETHUSD will rise up.
This would mean that ETHEREUM will gain more value against USD.
What is the right way? Looking for relevant timeframes, with patience and planning, NO DESPERATION.
No one goes into the market thinking they should buy at the high and sell at the low. The problem is that at the moment when faced with the ups and downs of the market, it’s hard to resist the urge to do those things.
Trading is all about spotting emotional excesses either to the downside or the upside. You want to be on the right side of those emotional reactions and not the wrong.
If you want to win in this market, you need to be COLD and CALCULIST.
To the moon is too close, go beyond!!!
Well, keep you updated as this timely issue evolves.
Good luck!
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