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Ethshort

Economic Bubbles and EMA 100/200Here is an ETH analysis of the current price drop, and based on the Theory of Financial Bubbles can we spot three bubble ish formations in the past years. The three points in time this analysis sees are the bubbles in 2018 when the price drop followed by a pump to the upside, not as high as the previous high but this was followed by a drastic drop The market followed the economic bubble theory with a peak which followed by a price drop, by the time the price started to stabilize itself did investors take profit and the price crashed into a panic sell off. The second point in time this happened was the start of the Covid pandemic which caused the price to follow this same movement to its low. Now in 2022 can we see this similar movement where the price has started to drop which will continue downwards and after this initial downtrend will the price pump slightly upwards where investors take profit and after this pump will the price crash. Following the Financial Bubble Theory. Something we trader also need to take into account which may confirm this analysis is the movement in in EMA 100 which during these three points in time crossed down below the EMA 200. Entry Price: 3200 USD Target Price 1: 2500 USD Target Price 2: 2100 USD Target Price 3: 1700 USD When taking this position do we need to focus on the initial drop and when the price pumps upwards do need to take into account for the downwards sloping resistance line, if the price breaks the trend line to the upside is the trend likely to reverse and do a final longer push. This assumption is less likely to happen, as the general price trend is a take profit zone before the price hits the panic zone and its final drop off. This is not financial advice.
COINBASE:ETHUSDShort
by vf_investment
3
ETH has overcome resistance and remains just above it.Hello everyone, let's take a look at the 1H ETH to USDT chart. Let's start by marking the local uptrend line, the price of ETH keeps climbing our line. Now let's move to the support line as you can see the first support is around $ 3,010, however if the current support is broken the next support is $ 2,851, $ 2,718 and $ 2,591. Looking the other way, it's also worth highlighting the resistance points that price has to overcome and we can see that the first resistance is $ 3,396, the next is $ 3,732, and the next is $ 4,157. It's worth paying attention to the CHOP indicator, which shows that despite the last move we still have some energy.
by cryptodailyuk