EthUsd can drop to 1800 againMy previous 1800 target was reached and from this support, Ethereun has started to rise again.
This rise is not impulsive though and looks near to an end
A break under trend line support would accelerate losses and 2600 zone should provide strong resistance.
I'm looking to sell rallies
Ethusdshort
Ethereum ETH Rising Wedge Ehtereum looks to be coming up to the end of the road for this pump. This a crystal clear Rising Wedge ETH has developed which is a Bearish Pattern. BTC is pulling a balancing act at the moment after breaking down out of its own Rising Wedge and is awaiting downfall.
Over the past few weeks, we have seen more and more of a delayed reaction between BTC's movements and ETH's movements. This is due to Bitcoins Dominance dropping and Altcoins getting a little extra juice. It seems BTC is taking the lead in this situation and ETH should follow suit.
~Targeting around 1700
~Invalidated if strong break above 2500
ETHUSD from the Daily Cloud PerspectiveFrom the Daily cloud view, we can see that the associated price action is at an indecision area. The Kijun Sen is starting to point down, Cloud Span A is pointing down along with Cloud Span B and the Kumo is red as a result. Seeing divergence between the Cloud price action and the oscillator.
Going up to the weekly you can see that the market is bearish below both the Tenken Sen and Kijun Sen lines and we have a bullish flat horizontal Kumo.
FxAST applied to ETHUSDJust to expand on the previous chart. I have applied the FxAST trading system to this and we can see that we are approaching an area with strong resistance (black line inside of supply zone). This is a confluence area that associated price action must breakthrough. The below oscillator isn't as strong as I would like to see but we still have some time before the market gets to this area if it at all.
ETH weekend scenariosLooking at a couple of things that I believe could happen with ETHUSD. The above supply zone area (stacked) shows there is still some liquidity there for the market to push up (FO) and then break back down. The possibility also that there is enough bullish momentum to break through (creating swap zone) and then push potentially to a new higher high.
ETH still has a long way to go before it bottoms at $700-800Don't want to be the bearer of bad news, but even though ETH will bounce higher over the next couple of months, it'll eventually find it's way down to the gray rectangle in the $700-800 range towards the second half of the year.
Great news for those who are prepared to buy at lower levels. Bad for those that are holding from the top.
Ethereum Head and Shoulders target fall to 2000Ethereum seems to be continuing its bearish trend. We are looking at a potential short at the 200MAs, which is currently sitting at around 2240.
A new pattern is now potentially forming, the head and shoulders, with the neckline at 2125. If price breaks the neckline, the target is around 2000.
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ETH: Ready for a breakdown?ETHUSDT looks ready for a breakdown:
We are above the 180 EMA, resistance-turned-support, and the Ichimoku cloud.
But, we have formed a triangle, that looks ready for a break, considering the current trend is still a downtrend.
The triangle will probably break down pushing us below the Ichimoku cloud, turning it into resistance.
Volume has been following quite closely the moves in price, so no divergence here.
I believe this last few hits against this area of support have eroded the buyer's capacity for keeping prices this high, confidence is not great and bearish sentiment might soon go into overdrive at any sign of FUD.
Based on this, I'm really looking for lower ETHUSDT prices and going back into the 2K to 1.5K range for a while.
ALWAYS PRACTICE RISK MANAGEMENT, RISK MANAGEMENT IS THE MOST IMPORTANT SKILL IN TRADING.
💥ETHUSD - TO DIP TO $2200, THEN $1800As we can see on this chart, we have a downward trendline breakout from $2650 and a pull back is in play back to $2550 or the breakout point at $2650.
When price reach $2650, I expect price to dip to the neckline at $2220. If price, break the neckline downward, then I expect another dip to $1800.
What do you think?
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EthUsd could visit the recent 1750 lowIn my previous analysis, I said that 3k should provide a strong ceiling for Ethereum, and rallies towards that zone should be should.
And, indeed, we had a rebound for EthUsd. However, the rebound was weak and without conviction.
At this moment Ethereum is trading just above local support and a break here should accelerate losses and expose 2k and 1.8k furthermore.
I will remain bearish EthUsd as long as the price is under 3k
Ethereum- 3k should be very strong ceilingEthUsd has also broken the trend line support that kept the price elevated since 23 May recent low.
At this point, 3k should be a very strong ceiling and a retest of the broken trendline could provide bears a good entry point.
The recent low could be the target and only price above 3.1k would change my bearish outlook