Ethereum - "FOMO" is likely to punish buyersFor about a month now, we repeated that bullish calls for a trend reversal and bottom were false. We continue to stick to this narrative also today. Indeed, recently, we noted that the price of Ethereum started to appear attractive for short position (re)entry in the range between 1500 USD - 1600 USD and above.
We believe drying up liquidity in the market suggests trouble ahead with institutional players utilizing the recent bounce to sell their positions. In addition to that, higher interest rates, a weakening economy, and regulatory obstacles continue to threaten the cryptocurrency market.
As a result, we think the bear market rally nears its end. Therefore, in accordance with our assessment, we would like to set a price target for ETHUSD at 1 000 USD.
Illustration 1.01
Illustration 1.01 shows the daily chart of ETHUSD. Yellow arrows indicate three bullish breakouts and one bearish retracement. White horizontal lines indicate support and resistance levels.
Systemic cracks
The list of affected companies and concise description:
1. Voyager (bankrupt) - defaulted on $350 million in the U.S. dollar-pegged stablecoin, USDC , and 15,250 bitcoin .
2. Zipmex (bankrupt)
3. 3 Arrow Capital (bankrupt) - filed for bankruptcy and its founders went missing.
4. Celsius Network (bankrupt) - went bankrupt after freezing over 151 000 Bitcoins locked away from its 1.7 million users.
5. CoinFlex - (limited withdrawals)
6. SkyBridge Capital - cryptocurrency fund (suspended withdrawals)
7. Coinbase (investigated by the SEC) - probed over the issuance of securities and insider trading.
8. Binance (investigated by the SEC) - probed over Tether stablecoin and insider trading.
Technical analysis - daily time frame
RSI, MACD, and Stochastic are all bearish. DM+ and DM- are bullish. Overall, the daily time frame is bearish.
Illustration 1.02
The chart above shows the relationship between price and volume. It can be seen that after bullish breakouts, volume declined, hinting at the temporary evaporation of buyers. Now, we want to see a build-up in volume accompanying a declining price to confirm our bearish thesis.
An ugly reminder of the downtrend
The list of affected cryptocurrencies:
Luna - stablecoin (-99%)
CEL - cryptocurrency (-84%)
Cardano - cryptocurrency (-82%)
BNB - cryptocurrency (-57%)
XRP - cryptocurrency (-89%)
BTC - cryptocurrency (-64%)
ETH - cryptocurrency (-65%)
SOL - cryptocurrency (-82%)
Dogecoin - meme coin (-90%)
Polkadot - cryptocurrency (-84%)
Matic/Polygon - cryptocurrency (-72%)
*The list shows values from 30th July 2022. Declines are measured from all-time-high values.
Technical analysis - weekly time frame
RSI is bearish. MACD strives to perform bullish crossover. Stochastic is bullish. DM+ and DM- are bearish. Overall, the weekly time frame sends mixed signals; it lags behind the daily time frame.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Ethereumshort
Trading opportunity for ETHUSDT - EthereumBased on technical factors there is a short position in :
📊 ETHUSDT Ethereum
🔴 Short Now 1526.10
🧯 Stop loss 1650.00
🏹 Target 1 1350.00
🏹 Target 2 1200.00
🏹 Target 3 950.00
💸Capital : 1%
We hope it is profitable for you ❤️
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Ethereum Sell into the resistance.Ethereum - Intraday - We look to Sell at 1259 (stop at 1311)
Daily signals are bearish.
A lower correction is expected.
Early optimism is likely to lead to gains although extended attempts higher are expected to fail.
1281 has been pivotal.
1275 has been pivotal.
The trend of lower highs is located at 1269.
Our profit targets will be 1135 and 1105
Resistance: 1280 / 1400 / 1500
Support: 1200 / 1150 / 1100
ETH: Still bearish!1Ethereum
Intraday - We look to Sell at 1173 (stop at 1216)
Short term bias has turned negative. Previous support at 1200 now becomes resistance. 1193 has been pivotal. 50 4hour EMA is at 1175. 20 4hour EMA is at 1169. Preferred trade is to sell into rallies.
Our profit targets will be 1063 and 1033
Resistance: 1150 / 1200 / 1250
Support: 1100 / 1050 / 1000
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Fed's Quantitative Tightening put pressure on Crypto Market. Fed's Tightening of the balance sheet will put more pressure on the crypto market and the stock market, Don't fight it!
in today's trading session we are monitoring Ethereum for a selling opportunity around 1550 zone, once we will receive any bearish confirmation the trade will be executed.
trade safe, Joe.
ETH Update - Next Target @ $1,600The 4 Hour chart is over bought.
Momentum is dying and it looks like ETH will be on its way down soon.
Opening longs here might not be the best idea while inside this bear flag / pennant however you want to look at it.
Small bounce expected once it hits #5.
Entry Between:
$2,053 - 1934.36
Take Profit:
TP 1 - $1,792.41
TP 2 - $1,613.06
Stop Loss:
$2122.11
If you'd like me to analyse any other crypto send me a message or leave a comment 👍🏽
Happy trading!
Not Financial Advise. Do Your Own Research.
Bearish Ethereum Do you still remember this chart from 07/05/2022?
Do you still remember this comment?
"Yet another weekly timeframe analysis.
Where it says "head' was the Eth All Times High (Axis). Take notice of bullish and bearish trends in the chart, volume, MACD and everywhere.
Best sample to master bearish chart patterns, all in one place."
Well, there has been a lot that has happened since and exactly as predicted in this chart. This is the same chart as of 07/05 with new comments.
1) Ethereum has indeed followed the downtrend pattern.
2) We've lost the very important support 2680K which turned to resistance.
3) We've lost the 2300K support gained on 24/02/2022, and turned now to resistance.
4) We've lost the 2155K support gained on 24/01/2022, 1nd turned now to resistance during the last crash that started on 12/05. Ethereum retested this level on 16/05 and has been rejected.
No more comments!
This is not financial advice. Do your own research before trading.
Ethereum : Ready to for a breakout or breakdown weekAfter consolidating below $2000 , ethereum is getting close to another breaking point. In coming week we might see a breakout or break down . long term position entries are already taken in ethereum with last entry at 1800. The initial target I am targeting is $3000 for long term. In coming week my idea is that if the price goes down it may test the support of 1800 once again.
If you like this or if you think the opposite of this or if there is any other opinion, mention it in the comments. I am open to all kind of suggestions and critics
ETH - will go below $1,000This weekly chart shows that the Weekly 20 EMA is about to cross below the 50 EMA, probably in the next few days this week.
So far we've hit all the targets on the weekly chart for ETH.
One more target left which takes us below $1,000 and I am expecting this to hit in the coming weeks.
At the time of writing this ETH is currently being rejected by the 1 Hour 20 EMA as well as being rejected by the 4 Hour 20 EMA.
The 1 Hour RSI is showing over bought and MACD is running out of gas and I am expecting ETH to continue the decline.
ETH Sell into the daily 20 EMA.Ethereum - Intraday - We look to Sell at 2935 (stop at 2983)
2981 has been pivotal.
Our short term bias remains negative.
Preferred trade is to sell into rallies.
20 1day EMA is at 2935.
Our profit targets will be 2812 and 2772
Resistance: 2850 / 2900 / 2980
Support: 2800 / 2760 / 2720
Ethereum sell a break of $2800.Ethereum - Intraday - We look to Sell at 2788 (stop at 2831)
Daily signals are mildly bearish.
Short term momentum is bearish.
A break of bespoke support at 2800, and the move lower is already underway.
Our profit targets will be 2672 and 2632
Resistance: 2880 / 2950 / 3030
Support: 2800 / 2760 / 2700
Ethereum: Bears In Charge 🐻The bears are in charge! They have already dragged Ethereum below the mark at $3412 and – after some recreational sidewards movement – even further down. Soon, they should reach the support at $2306 and lead Ethereum below this mark as well to finish wave v in orange. However, we must keep in mind the 42% chance that the bears could lose control so that Ethereum could escape above $3412 and into the blue zone between $3512 and $4559.