ETH Weekly Looking CleanMajors Levels marked. Green is support, red is resistance. Watch for a close above the immediate resistance line. Otherwise, I would stay neutral.
Ethneutral
ETH/USD intradaySpeedfans, weighted average price and fib. Would be best to short it before it breaks any major resistance. We may have a breakout. My suggestion is to short to hedge and then to add longs if it breaks any resistance in the chart.
ETHEUR on the verge of its last upside within ascending wedgeHello traders,
We're again near the latest ATH, as BTCUSD and ETHUSD. In the case of ETHEUR, the psychological resistance would be 1600 EUR.
As described on previous analysis, the flat top triangle (blue) which goes from mid January to early February would signal that prices would go up to 1613 EUR. However, a really disturbing ascending wedge (red polyline) has been forming immediately after the flat top triangle was completed. As can be noticed, we're at the last stage of this wedge, so keep your stop-loss thresholds tight.
Now the question would be this: will this wedge be completed when reaching 1600 EUR? Will the upside halt when reaching its previous ATH? Will a new ATH be set between the previous and 1613 EUR?
To answer this questions, I've came up with this hypothesis: Considering that the top of the flat top triangle would be a major support (that is, the zone between 1183 to 1210 EUR) and that the height of the ascending wedge signals the theoretical pullback after the pattern is completed, I decided to project the height of the wedge from the top of the triangle. The result is the hypothetical resistance level of the current uptrend, which would be located on the previous ATH (1548 EUR) or a little bit higher (1572 EUR).
Though the height of the flat top triangle signals that prices could go up to 1613 EUR, what happens between 1548 EUR, 1572 EUR, and 1613 EUR for now is a complete mystery for me.
ETH 1 Day OutlookETH on a macro scale looks pretty neutral to me. Had a nice run up from the 300's. Then a pull back from 800 in tangent with BTCs dump. Had a nice bounce off the 490 level. Would need to break above 540 for me to short term become bullish. My key reversal zone is from 605 to 618 mainly due to the order block and how price reacted with the level and how it reacted when it was broken. If we were to break above their I would assume a macro bullish trend at least in the medium term. No plans for a trade right now. We shall see how it pans out.
Ethereum FLAGLookin' to go LONG if it should break through and consolidate above the two blue bearish trendlines on a daily basis. After the breakout, consider that a pull back of long green candles back to the major FIB levels is very likely to happen.
PS: You could also think about shorting above 0.0119 with a stop loss at 0.0122
