Ethereum is in the demand zone: Buy Ethereum
Hello guys and Ethereum's fan, In this analysis, we see that Ethereum is continue up. It's very important to know how to manage your risk and take plans.
Well, in H4 timeframe we see that Ethereum is finished the Elliot Wave cycle and we have in the new formation of Elliot Wave Analysis ABC to then, to continue found out what Ethereum do.
But in that case, we do not any chartist pattern, for now, the most importance for Ethereum it's their trend, is bullish!!!
So, for now, we need to take patience until Ethereum leave down to the $320 USD to then, open up a long position, because as Ethereum is so volatil, we need to take patient.
But, looking in Daily timeframe, we see a then, that Ethereum it's want to go up until the yellow resistance.
Ethereumlong
The future of Ethereum: The 2nd crypto and king of Dapps In this analysis for you, I will go for you to bring this analysis to discuss what is Ethereum.
Ethereum is the 2nd cryptocurrency after of Bitcoin, Ethereum started on 2015 with Vitalik Buterin, He's the Ethereum's Co-Founder and the mission of Ethereum is to become one of the best crypto-solution for our life and leadership of Blockchain. Ethereum is an interesting proyect like Bitcoin to take in our radar, because as Ethereum is go to grow up throught the time, it's a good idea to invest in Ethereum and I like this proyect about their creation of other tokens, blockchain and the one of the blockchain solution to created a decentralized application calles Dapps. Also, in the past year, I havened a proyect to created with Ethereum called Cryptocraft World Revolution, that proyect is based for digital economy to make an easiy user interface with the plattform as created cities decentralized, an economy impery based as our world but using a kind of Blockchain that I wanna to created it.
I admire a lot of Ethereum, also I compared this proyect as Cardano, because my own exit strategy for me is accumulate more and more Cardano, but any of Ethereum is another radar to take noticed on this crypto when is explode to reach level never see. That maket cycle is so repeat when Bitcoin was in the $320 USD on 2016.
Well guys, that is my analysis on how I see a Ethereum for longest term!!!
If you like it to reach the $17,000 USD as target for Ethereum. You can to get a like of this idea!!!
Also, I share you in weekly the Elliot Waves Analysis. Look below:
Also guys, on the next week, I will going to re-started to making a investment for long-term on cryptocurrencies. And I will started for the news as the community to bring about all of Bitcoin to explain what is Bitcoin, and all about of this money decentralized. And then, analyzed my altcoins that I want to know and making a study's autodidactic.
Ethereum can hit $800 soon if this resistance will be brokenHi friends, hope you are well and welcome to the new update on Ethereum coin. The second largest cryptocurrency has surged 46% since I posted my last article. First of all for the people who are not following my articles on Ethereum coin I would like to give some recap. In March 2020 I posted an article where I revealed that the price action of Ethereum has completed the formation of a bullish Gartley pattern on the monthly chart.
The price action of Ethereum was entered in the potential reversal zone of this big bullish Gartley pattern and as per Fibonacci sequence of this pattern, I predicted that the priceline will start a rally to the upside from here at least up to 0.382 to 0.786 Fibonacci projection of A to D leg.
Finally the price action started the movement to the upside as predicted and so far it has produced more than 270% powerful bullish rally.
The priceline can move upto $800 soon:
Now I would like to take you to the 4 day chart to show you the different support and resistance levels. On the chart we can see that recently the price action has broken out the $400 resistance level and went very close to the $500 resistance. Once the $500 resistance level will be broken out then there is no significant resistance between the $500 and $800. Therefore we will witness a very powerful and rapid bullish move up to $800 once the $500 resistance will be broken out.
If we take more closer look at the chart then we can also observe that after breaking out the $400 resistance level the price action has already re-tested the previous resistance as support. And after retesting the priceline has retained the support above $400. If price action of the second largest cryptocurrency will be not able to breakout $500 resistance then it can form a parallel channel between 400 to 500 dollar levels.
The moving averages are moving up with price action:
After placing the simple moving averages with the time period of 25, 50, 100 and 200 a very positive gesture by these moving averages can be observed. As the price action of Ethereum has surged more than 270% but these simple moving averages also moving up with the price action. And after a certain time period the priceline is using these moving averages as support before starting the next rally to the upside.
Formation of new channel:
From the month of June 2020 the price action of Ethereum coin has started the formation of an up channel. We have several touches at the support and also at the resistance of this channel. Now this support of the channel can be used as a stop loss to find any appropriate exit point.
If we take a look at the volume indicator below the channel. Then it can be easily observed that we have more buying volume than sell volume. Therefore we can take it as a signal for the continuation of the up channel.
The Ichimoku cloud has turned strong bullish:
Now I would like to take you to the long term weekly chart. And over here if we place the Ichimoku cloud then it has turned is very strong bullish, the lagging span of the cloud has crossed up the price action and the cloud as well. The price action has already broken out the bearish cloud and we have already received the bull cross between the conversion and the baseline and the cloud has turned bullish after March 2020. Therefore now this Ichimoku cloud has become a very strong support for the priceline of Ethereum coin on the long term.
Conclusion:
After breaking out the Ichimoku cloud on the long term chart the price action of second largest cryptocurrency has confirmed the long-term bull run. But as on the short-term priceline is moving in an app channel, therefore in case the support of this channel will be broken down then a short time rally to the downside can be started. However, If such short term rallies will be triggered then these rallies would be seen as a correction on the long term charts.
Comparing Bitcoin And EthereumA point comparison between BLX and ETHUSD,
Some similarities can be seen
The ones i can see are labelled, if you spot another one leave it in the comments.
The bull scenario for bitcoin
Scenario with price targets if bull route takes control
Bitcoin bearish situation, trend along Fibonacci ring
I am long Ethereum, however bitcoin becomes more attractive as each day passes. Anyone can relate?
ETH break up - 0.618ETHBTC pair has broken up into the 0.618 fib area
I believe the next bull move we will see BTC lead with ETH following.
I make this assessment based on my previous analysis of BTC and BTC dominance
Ethereum still even if it is following, will position itself for a mighty bullrun
A golden cross is soon to come on this pair also. (in green box)
Ethereum Horizontal Structure - Take your pick whalesA downward extension towards the large wick that has formed during the flash crash that was recently experienced
Or stabilisation of the horizontal structure and another bull move to the upside
bulls still control this market, so I assume the horizontal structure will hold
However it may be a way to take out leveraged positions.