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Ethusdidea

Ethereum has broken major support! Keep an eye out on this tradeEthereum has broken major support-turned-resistance at 995 triggering a bearish exit. Our 1st resistance is at 995 (Fibonacci retracement, horizontal pullback resistance, breakout level) where a strong drop could occur from pushing price all the way down to 769. We have to be careful about 931 support level as price has bounced off that area previously and it currently serves as intermediate support. RSI (55) is seeing pullback resistance to our ascending support-turned-resistance line. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
COINBASE:ETHUSDShort
by Tickmill
Ethereum approaching major resistance, watch for reversal!Ethereum is approaching major resistance at 1144 (Fibonacci retracement, horizontal overlap resistance, pullback resistance) and a strong reaction could occur at this level to drive price down to 927 support (Fibonacci retracement, horizontal swing low support). Do be aware that we’re seeing intermediate support at 1015. Stochastic (34,5,3) is seeing major resistance at 98% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
COINBASE:ETHUSDShort
by Tickmill
1
Ethereum approaching major support, watch for break of key level Ethereum is approaching our major support level at 995 (Fibonacci retracement, horizontal swing low support) and a clean break of this level could open a potential drop to 769 major support (Fibonacci extension, horizontal swing low support). We have to be careful of intermediate support at 931 (Fibonacci retracement, horizontal swing low support). RSI (34) has made a bearish exit of our ascending support-turned-resistance line signaling that we’re likely to see massive bearish pressure. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
COINBASE:ETHUSDShort
by Tickmill
3
Ethereum in a bullish formation, look out for dips! Ethereum is rising nicely as expected and we can see an impulse Elliott wave formation with first major support at 1162 (Fibonacci retracement, horizontal pullback support) where a further rise could occur from to push price up towards 1282 resistance (Fibonacci extension, horizontal pullback resistance, elliott wave structure). RSI (34) is seeing ascending support hold up price really well in this bullish run. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
COINBASE:ETHUSDLong
by Tickmill
1
Ethereum approaching major support, prepare for a bounceEthereum is approaching major support at 1008 (38.2% Fibonacci retracement, ABC Fibonacci extension, horizontal swing low support) and a strong bounce could occur at this level to potentially push price up to even 1258 resistance (61.8% Fibonacci extension, horizontal pullback resistance). We have to remain careful that Ethereum is in a bearish channel and would increase our conviction for a bounce if it breaks the upside resistance of this channel. Stochastic (55,5,3) is seeing a bounce above 4.3% and also a recent break of a descending resistance-turned-support line signaling a potential change in momentum. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
COINBASE:ETHUSDLong
by Tickmill
1