Ethusdtidea
ETHUSDT breaking up from daily resistance, likely to move upETHUSDT is breaking out from the daily resistance. Currently it is trading above the resistance. This is a good sign. It seems likely that the daily candle close will be above this resistance. However, let us monitor that. The next target for the bullish move would be 1950 area.
ETH will probably stay in a Horizontal channel Hello friends, we're almost near to monthly candle closing, and I think there's a probability which ETH and BTC dump will be delayed to monthly candle close (01/apr/2023)......
and they may stay in a horizontal channel as you can see on the chart...
happy trading <3
ETHUSDT -DTechnical analysis of ETHUSDT daily time: 2023.3.6
With the current conditions in the daily time, due to the correction that is on the static resistance B of the pattern, and the upward trend before that, with the breaking of the resistance range, we can expect two targets in the ranges of 1843 and 2155, and two targets between the resistance range. We have the current and final target based on the pivots in the ranges of 1743 and 1977. Each target can be a resistance to carry out a correction or prevent the continuation of the trend. As a result, there is no need to touch all the targets.
ETHEREUM: BEARISH IN LOWER TIMEFRAME.ETH looks bearish to me. I expect a retracement in the market and this could be it. I am opening my short position at $1670 to $1725. If ETH closes above $1750 in 6 hours or a daily timeframe, I will exit my short trade. My target will be close to $1500. RRR- 1:3.
Note: Do not trade without SL and use 8x to 10x leverage. DYOR before investment.
Ethereum -> More Upside PotentialHello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe Ethereum just recently broke out of a very clear triangle formation and since then already had a pump of about 30% towards the upside.
We have the next clear resistance area coming in at $2000 so I do expect the market to have a bullish move into the zone before finding short term resistance there.
On the daily timeframe I am just waiting for the market to break above the previous resistance zone which we are currently testing once again, and after the break I definitely think the market will finally retest the $2000 area.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
ETHEREUM: AT THE RESISTANCE.ETH update:
We saw a 16% rally on ETH in the last 2 days, a straight pump from $1464 to $1711. This rally helped the coins under the ETH ecosystem like LRC, RNDR, ENJ, MASK, etc. to gain some bullish momentum. Just like BTC, ETH is also testing the $1700 resistance level. A successful breakout above this resistance will continue to bring a positive move in the market but a rejection on the other hand may create a panic situation.
Keeping an eye on the current market scenario, I am expecting a correction to take place soon in the market.
That's it for now. Thank you for reading and trade safely.
ETHUSDT Wycokoff Accumulation with Elliott Wave dynamicsIf you look at the recent accumulation phase, you can see that we are now in Phase D. Today we had the “test”, where we seen a sudden dump followed by fast pump. This should signal that we are ready to move up. The Elliott Wave was followed almost perfectly. Towards point A there was 1,3,5 impulse and at the time of writing this we completed ABC correction. If all goes well we should be going up to the next C price point.
Note: BTC and Eth are trading almost identical right now.
Ethereum -> The Last Chance For BullsHello Traders,
welcome to this free and educational multi-timeframe technical analysis .
Ethereum just recently broke above a very clear weekly and daily downtrend line and immediately had an agressive pump of about 45% towards the upside, showing that there is definitely some buying pressure in the marekt.
From a weekly timeframe the market then tested previous weekly resistance and already rejected the zone quite nicely towards the downside, so I am now just waiting for bullish price-action before I do expect the continuation towards the upside.
From a daily timeframe we are still sitting at a previous support zone, which is the last support area before the market will make another 10% drop towards the downside so I am now just waiting to see if bulls can actually defend this support zone.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset: