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Ethereum is breaking out the midterm resistanceHey friends hope you are well and welcome the new update on Ethereum (ETH) coin. The priceline is being consolidated at $350 support level. The next supports are at $325, $280 and the next resistance levels are at $400 and then $800. On long term there is no significant resistance between $400 and $800. Therefore incase of breaking out $400 resistance the priceline can move at $800 very soon. On daily chart priceline has broken down 25 and 50 simple moving averages and now retesting the 100 SMA support 1st time after May 2020, and likely to have nice bounce from here. On daily chart from 13 Aug the price action of Ethereum is moving in a down channel. At the moment the candlesticks are trying to breakout the resistance of the channel in the meanwhile the priceline of second largest cryptocurrency is also breaking out the exponential moving averages with the time period of 10 and 21. After September 2020 the price action has found a very strong resistance on small time period 4 hour chart. The Ethereum’s price action has been rejected several times by this rejection line. Now finally the priceline is breaking out this strong resistance line. After this break out the price action can easily breakout the resistance of the down channel on daily chart. The priceline of ETH is still moving above the ichimoku cloud and the ichimoku cloud is still bullish. Conclusion: On 4-hour chart the priceline is breaking out the midterm resistance line. If this resistance will be broken out then we can expect the breakout from the down channel on the daily chart as well. However as stop loss we can use the support of the channel to minimize the risk factor.
COINBASE:ETHUSDLong
by moon333
1
ETH/USD: Long Term Bullish Setup for EthereumIf you like this analysis, please make sure to like the post! I would also appreciate it if you could leave a comment below with some original insight. Analysis - In my previous Bitcoin analysis, I've mentioned the importance of securing the 10.5k support - As we play by levels, today's break and close above the regional resistance provides a bullish signal for altcoins as well - In the case of Ethereum, we can see that prices are currently testing the long term support - Below current support levels marked by green, Ethereum has been consolidating for almost two years, leading up to the recent breakout - However, as Bitcoin corrected severely from 12k levels to 9k levels, Ethereum has formed a pullback as well, retesting support - The Relative Strength Index (RSI) continues to create higher lows as a sign of strength in the bullish trend - While the Moving Average Convergence Divergence (MACD) is about to form a death cross, confirmation is required, as the moving average could bounce. - Within the smaller Fibonacci retracment, prices are currently trading between the 0.236 resistance and 0.382 support - After a breakout of $400 levels, we could play by levels once again on the long term, based on the Fibonacci retracment price targets. Conclusion While Ethereum is at a nebulous zone between support and resistance, Bitcoin's breakout today has confirmed a bullish case for the cryptocurrency market, providing more confidence in a long term position for Ethereum. While risk still exists, the upside potential for Ethereum on the long term remains extremely huge.
COINBASE:ETHUSDLong
by Michael_Wang_Official
10
Will Ethereum Hold These Supports???Expected up channel has been invalidated: In my previous article I were expecting that the second-largest cryptocurrency will hold the support above the trendline that was started on 19th July 2020 on the daily chart. The price action also found resistance above this support, therefore I was expecting that a perfect up channel will be formed from this point. But unfortunately Ethereum followed the bearish move of the Bitcoin and broke down the support of this expected up-channel. I have also play the volume indicator on this chart that is showing a lot of sell volume has entered in the market. The price action rejected by next resistance level: Now if we switch to the 4 day chart then different support and resistance levels can be seen. As in my previous article I told you if the price action will breakout the $500 resistance level then there is no significant resistance between the $500 to $800.Therefore after breaking out this resistance level we can expect a very rapid move up to $800 resistance. But unfortunately the price action went very close to the $500 resistance and moved down. Now it has even broken down the $400 support. At this time it is re-testing the previous supports of $350 and $325 at the same time. The priceline may re-test the SMAs as support before the next rally: Now I would like to show you the different simple moving averages with the time period of 25, 50, 100 and 200 on the daily chart. At the moment priceline of Ethereum coin has broken down the 25 simple moving average and the 50 SMA and it is above the supports of 100 and 200 simple moving averages. Now we can expect if the price action won’t bounce from the 100 simple moving average then it can move down to the next support of 200 simple moving average that is at $244 at the time of writing. And if we switch to the long term weekly chart then there is another possibility that the price action will retest the 200 simple moving average before the next rally to the upside. We can also see that the 25 simple moving average is continuously moving up to form a bull cross with 200 simple moving average. And for the people who don't know I would like to tell them that whenever the smaller time period moving average crosses up the bigger time period moving average that is considered as a strong buying signal and a rally to the upside can be started. After 25 SMA, the 50 simple moving average is also moving towards 200 SMA and when the 50 simple moving average will cross up the 200 simple moving average that will be a real golden cross and a strong bullish signal on the long term. The priceline may not re-test the bearish cloud: Now if we place the Ichimoku on the same long-term weekly chart then we have already seen that the price action has broken out the bearish cloud and the Ichimoku cloud has given strong bullish signals. Now the price line is moving down towards the bearish cloud. But I am not expecting as that much powerful bearish rally that it will re-test the cloud as support, because we have the strong supports of the simple moving averages on the daily and the weekly chart as discussed above. Therefore there is a strong possibility that priceline will start the next rally to the upside without touching this cloud. Conclusion: We have witnessed several correction rallies on the daily chart while the bullish move of Ethereum. But correction on the long-term chart was still due that is happening at the moment. Therefore this correction was required for the next move to the upside once this correction will be ended then we can expect a powerful bullish rally.
COINBASE:ETHUSD
by moon333
1
ETH Market Dominance at 2020 HighEther’s market cap’s share of the broader digital asset market hit a 2020 high over 14% Wednesday. Although dipping a bit Thursday, the last time ether’s share was at these levels was back in August 2018. “A large number of useful projects on the Ethereum blockchain contribute to ether dominance growth,” said Azamat Malaev, co-founder of HodlTree, a decentralized lending protocol. However, scaling is an issue that could cause ether’s share to wane, Malaev added. “To maintain this trend, Ethereum urgently need to scale the network - for ordinary users, transactions are already very expensive”
CRYPTOCAP:ETH.DLong
by danielcawrey
12
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.
COINBASE:ETHUSDLong
by moon333
3
ETH/USD: Long Term Breakout Analysis 1W (Aug. 17)X Force Global Analysis: If you find our analyses to be helpful, make sure to support us by dropping a ‘like’ Ethereum has been leading this bullish cryptocurrency rally of 2020. In this analysis, we assess Ethereum's weekly chart in order to determine potentiality of its long term growth. Analysis - To begin with, there has been a strong zone of resistance between $365 and $400, marked by the orange bar - We have seen prices test, and get rejected by this territory numerous times throughout history. - The last time we saw a break and close above this resistance zone was in November 2017, which led to a massive bullish rally - As demonstrated above, this is the first time in almost 3 years since we have broken out of the strong resistance zone - It's also important to note that we have broken through significant descending trend line resistances, marked by the dotted white lines What We Believe As we have seen the weekly candle break and close above significant resistance zones, we believe that a corrective or bearish trend leading prices back down sub $350 is highly improbable. The weekly chart demonstrates clear upside for a long term bullish trend. Let us know what you think in the comment section below Trade Safe.
COINBASE:ETHUSDLong
by XForceGlobal
8
ETHUSD Update: Profit=22850 SL=7050 Reward/Risk > 3.2:1 Trade Setup summary: Profit targets=22850 pip (3270 + 6970 + 12610) Stop Loss =7050 pip Reward/Risk > 3.2: 1 Current Status: Total Profit: 42250 pip Closed trade(s): 13150 pip Profit Open trade(s): 29100 pip Profit Trade Setup: We opened 5 BUY trade(s) @ 339.00 based on 'previous Forecast' at 2020.08.02 : Closed Profit: TP1 @ 393.00 touched at 2020.08.03 with 5400 pip Profit. TP2 @ 416.50 touched at 2020.08.13 with 7750 pip Profit. 5400 + 7750 = 13150 Open Profit: Profit for one trade is 436.00(current price) - 339.00(open price) = 9700 pip 3 trade(s) still open, therefore total profit for open trade(s) is 9700 x 3 = 29100 pip Technical analysis: . ETHUSD is in a range bound and the beginning of uptrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 70. New Trading suggestion: . There is still a possibility of temporary retracement to suggested support line (416.50) again. if so, traders can set orders based on Price Action and expect to reach short-term targets. New Take Profits: TP3= @ 449.20 TP4= @ 486.20 TP5= @ 542.60 SL= Break below 393.00 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex trader? Now, It's your turn! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
BITSTAMP:ETHUSDLong
by ForecastCity
10
ETHUSD Update: Profit=22850 SL=7050 Reward/Risk > 3.2:1 Trade Setup summary: Profit targets=22850 pip (3270 + 6970 + 12610) Stop Loss =7050 pip Reward/Risk > 3.2: 1 Current Status: Total Profit: 42250 pip Closed trade(s): 13150 pip Profit Open trade(s): 29100 pip Profit Trade Setup: We opened 5 BUY trade(s) @ 339.00 based on 'previous Forecast' at 2020.08.02 : Closed Profit: TP1 @ 393.00 touched at 2020.08.03 with 5400 pip Profit. TP2 @ 416.50 touched at 2020.08.13 with 7750 pip Profit. 5400 + 7750 = 13150 Open Profit: Profit for one trade is 436.00(current price) - 339.00(open price) = 9700 pip 3 trade(s) still open, therefore total profit for open trade(s) is 9700 x 3 = 29100 pip Technical analysis: . ETHUSD is in a range bound and the beginning of uptrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 70. New Trading suggestion: . There is still a possibility of temporary retracement to suggested support line (416.50) again. if so, traders can set orders based on Price Action and expect to reach short-term targets. New Take Profits: TP3= @ 449.20 TP4= @ 486.20 TP5= @ 542.60 SL= Break below 393.00 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex trader? Now, It's your turn! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
BITSTAMP:ETHUSDLong
by ForecastCity
24
ETH/USDT: Pullback Probability Analysis 1W (Aug. 08)X Force Global Analysis: If you find our analyses to be helpful, make sure to support us by dropping a ‘like’ In this post, we analyse Ethereum's weekly chart, and its probabilities of a correction in the form of a pullback. Analysis - To begin with, Ethereum has broken out of two major descending trend line resistances, marked in orange - Despite the parabolic run over the past few weeks, however, Ethereum hasn't had a real correction take place - Candlesticks show a long upper wick, indicating signs of strong resistance around the 0.382 Fibonacci retracement resistance - The Relative Strength Index (RSI) is at overbought territories, at the same level as in Jan. 2018. - The Moving Average Convergence Divergence (MACD) however, shows good signs of momentum for the bullish trend - The Stochastic Oscillator is also at overbought territories, having formed a death cross - There is strong historical support around 355 USDT and 310 USDT - Even a drastic correction below 300 USDT, down to the 0.236 Fibonacci support would be considered bullish over the long run - Prices would still be trading above the Exponential Moving Average (EMA) Ribbon, and Ichimoku Cloud What We Believe We believe that Ethereum is extremely overbought, and is due for a correction in the form of a pullback. What may appear as dramatic corrections in the short term will most likely not hider with the long term bullish case, as unsustainable trends mostly come to an end. Let us know what you think in the comment section below Trade Safe.
by XForceGlobal
4