Ethshort
ETH — ROAD TO 1000$After analyzing the bitcoin situation, I would like to note the situation with ETH. This asset has not been pummeled by big players, so it has not yet managed to reach its ATH. I believe that in the near future it will not be able to do so either.
A large number of long positions will also prevent us from going higher, but in the case of ETH the situation is much better. At the bottom there is only one significant liquidity cluster in the range of 1500-2000. Further everything is very well traded up to the level of 1000, so even if bitcoin suddenly goes below 15000 ETH is obliged to stay above its previous global break around the level of 1200-1300.
A squeeze up is possible if bitcoin makes a final push upwards and as a consequence the last remaining liquidity will be collected up to the level of 4250 at the most for ETH.
I expect a reversal of the asset and correction to 1200-1300.
ETH → What to expect?In Ethereum (ETH) trading, we have reached the global "OB" point on the monthly timeframe, marking it as our primary area of interest (POI) to begin analysis and strategy formation.
In addition, there has been a noticeable accumulation of liquidity from lower levels, indicating a potential decline to the 1-hour FVG (fair value gap) followed by directional development.
In such scenarios, it is extremely important to seek confirmation before making trading decisions.
Bitcoin's current ATH (all-time high) could lead to a period of consolidation, possibly followed by a rally in altcoins.
We continue to closely monitor the market, anticipating potential declines and aiming to achieve our initial targets.
ETH LOCAL CORRECTIONThe price came to the zone of weekly OB. A huge number of unliquidated long positions at the bottom will not allow the asset to grow further, so we are unlikely to see growth in the near future. I expect a partial distribution of the asset and further decline to 3300 in the next few weeks.
ETH DISTRIBUTIONAs in the case with bitcoin the asset is likely to be distributed now. I don't know how long the distribution will last but I am sure that the price will move down to gather the bulls.
A possible situation with a breakout upwards with short positions liquidation and further movement downwards.
In order to continue to grow, it's vital that we make the asset lighter
ETH global correctionGlobally ETH still has the possibility of updating the ATH but without a preliminary correction it seems barely possible for me. We can see a huge amount of liquidity from below up to the 2500 level without areas of imbalance though. Positive funding is also the reason for my bearish attitude, a large number of long positions never allow you to grow further.
I expect reaction from OB1. It is possible to puncture upwards to collect liquidity and further descend downwards, collect liquidity and further reaction from OB+
ETH → Distribution continues?Based on the chart - we see that we are testing the global OB, where the new reversal formation came from
Primary targets are highlighted with arrows on the chart.
I do not consider any purchases - it is not expedient.
There is also a lot of liquidity accumulated under the local OBs, we will not leave them!
Daily Ethereum Update - March 5, 2024Since yesterday CRYPTOCAP:ETH has been showing more strength relative to Bitcoin, which is interesting since the spot ETH ETF was delayed yesterday and should have been bearish for ETH's price action. I think ETH is making some upward progress to the $3,944.66 price target discussed in previous updates.
ETH/USDT 1DAY UPDATE BY CRYPTOSANDERS !!Hello friends, welcome to this ETH/USDT update from Crypto Sanders.
Chart Analysis:- Hello friends, what do you think after seeing the chart? Please comment on the ETH 1-day update.
A detailed examination of the daily chart underscores Ethereum’s robust bullish momentum, as the price undergoes a substantial and impulsive upward movement, reaching the critical resistance area represented by the prior major yearly high of 3.6K.
Despite the formidable barrier at 3.6K, Ethereum’s overall outlook remains highly bullish, with market participants largely anticipating a successful breach of this level in the coming weeks.
Such a breakthrough would likely signal the expansion of the uptrend towards Ethereum’s ATH, positioning the price for a new high in the medium term. However, until such a breakout occurs, the 3.6K price range is likely to serve as a containment zone for Ethereum’s movements.
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ETH - LONGS VS SHORTSCRYPTOCAP:ETH
A simple visual of what tends to happen with the LONGS/SHORTS vs Price Action
Are you able to see that the ratio is currently showing a more bullish setup that not just the bear market lows but also all of recorded history ATM...
Are you ready for what comes next...?
ETH/USDT 1DAY UPDATE BY CRYPTOSANDERS !!Hello friends, welcome to this ETH/USDT update from Crypto Sanders.
Chart Analysis:- Hello friends, what do you think after seeing the chart? Please comment on the ETH 1-day update.
the price has been rallying after rebounding from the 2,200 support level a month ago. Both the 2,400 and 2,700 resistance levels have been broken with ease, and the price has also pushed above the large ascending channel. The 3,000 resistance level is currently being tested, and the market is failing to climb higher. ETH’s price might decline toward the 2,700 level in case a correction occurs before breaking higher.
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🚨#ETH/USDT Long#ETH
The price moves in bullish waves on a 1-day frame
We now have an upward trend in blue that we rely on, and it has been touched
We have a strong support area in green at the 2150 level
We have buying momentum on the MACD indicator
With stability above the moving average of 100
Entry price 2265
First target 2486
Second goal 2767
The third goal is 2993
ETHUSD (D) may experience a decline to the $26K-$26.5KCOINBASE:ETHUSD ETHUSD may experience a decline to the $26K-$26.5K
ETHUSD (D) may experience a decline to the price range of $26K-$26.5K. This assessment is grounded in the following observations:
RSI divergence at both the peak and trough of the recent uptrend indicates a weakening bullish pressure relative to selling pressure.
The non-breaking of the MA50 support on the initial attempt is a typical response but also suggests a reevaluation of the prevailing trend.
The abrupt and notable decline, swiftly moving from the $26K price range to $22.4K, raises substantial concerns compared to the preceding ascent.
Despite a robust price increase, recent volume has not demonstrated remarkable strength, highlighting the presence of numerous unsustainable FOMO factors.
RSI resides in the overbought zone, signaling the potential for a price correction at this stage (yet to be confirmed as a trend reversal).
The nearest price support zone lies within the range of $26K-$26.5K, presenting an opportune level for this corrective phase.
ETH → Ethereum Falling to $2,200!? A Prime Short Opportunity!Ethereum has reached the Resistance Zone at $2,850 and has shown the first signs of resistance. Should we enter a short?
How do we trade this? 🤔
The conditions are such that we should be looking for a short entry. We have three pushes up since the start of the last bull leg from $2,200, a strong Resistance Zone at the current price, and an RSI that is overbought at 78.00. We are in the potential short territory but need the sell signal and confirmation prior to entering a short.
Wait for the price to fall sharply and watch the candles after. It's likely we'll get a re-test of the $2,850 area before another sell bar occurs. Once that sell bar occurs, a 1:2 Risk/Reward Ratio is available to us if we enter the market at around $2,825. Set your stop loss into the Resistance Zone above the previous high and target 1:2 R/R for a take profit in the $2,350.
💡 Trade Idea 💡
Long Entry: $2,825
🟥 Stop Loss: $3,025
✅ Take Profit: $2,350
⚖️ Risk/Reward Ratio: 1:2
🔑 Key Takeaways 🔑
1. We have three pushes up since the start of the last bull leg from $2,200
2. Early signs of resistance at the current level
3. Strong Resistance Zone at the current level
4. Gap to the Support Zone
5. RSI is overbought at 78.00 and above the Moving Average, supporting the drop in price
💰 Trading Tip 💰
The longer a trend continues after 3 legs, the probability of that trend continuing lessens. Because of this decreased probability, we ought to reduce our risk when entering trades.
⚠️ Risk Warning! ⚠️
Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk!
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1. Reading Price Action
2. Chart Analysis
3. Trade Management
4. Trading Psychology
Ethereum's Market Dynamics PMI Forecast (Short)In the Ethereum community, traders are keeping a close eye on recent crypto market happenings, especially how Ethereum compares to Solana. They're discussing technical stuff like patterns and support levels for ETH/USD.
One hot topic is Solana's decentralized exchanges outdoing Ethereum in daily trading volume. People are feeling positive about Solana's success and wondering how it might affect Ethereum's place in decentralized finance (DeFi). Traders are thinking about how this competition could impact Ethereum's market share and user activity, seeing it as a positive sign for Solana's DeFi growth.
In this mix, there's a generally positive vibe around Ethereum. Community members are sharing insights on technical analyses, highlighting support and resistance levels, and looking into short-term trading opportunities. But, there's a key event to watch out for: the ISM Service PMI forecast on February 5th at 10 am.
The ISM Service PMI, expected to be 52 with a previous reading of 50.6, matters because it tells us about the growth or shrinkage of the services sector. Since Ethereum is influenced by overall market trends, traders and investors will keep a close watch on this economic indicator. It's important to note that if the forecast is too optimistic, it might create uncertainty, leading to a reassessment of market feelings and a possible price change for Ethereum.
To sum up, being part of the Ethereum community means navigating through technical details, DeFi competition, and the upcoming ISM Service PMI forecast. While there's generally positive thinking, the high forecast raises a caution flag, hinting that Monday, the 5th, might bring a potential price shift in Ethereum as the market responds to economic indicators and competition dynamics.
#Ethereum #TradingView #CryptoAnalysis
ETH/USDT 1DAY UPDATE BY CRYPTOSANDERS !!Hello friends, welcome to this ETH/USDT update from Crypto Sanders.
Chart Analysis:- Hello friends, what do you think after seeing the chart? Please comment on the ETH 1-day update.
The price of Ethereum is fluctuating inside a large ascending channel. The higher boundary of the pattern paired with the resistance level of 2,750 has rejected the price to the downside.
The market has since fallen below the 2,400 level and is currently retesting it. If the price fails to climb higher again, the chances of a further decline towards the 200-day moving average located around the 2,000 level will be significant.
I have tried to bring the best possible results in this chart.
If you like it, hit the like button and share your charts in the comments section.
Thank you.