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Ethereum AnalysisTechnical Analysis We have not seen significant upward movement since we made the run to 400, which was a few weeks ago Ethereum consolidated for almost 2 months, as seen in the yellow box. It is time for a break-out. It is forming a huge ascending triangle, known to have large breakouts. The breakouts of this pattern generally measure from the base at the start of the pattern formation to the top of the triangle structure. That breakout would take us to the mid $400's. We have outlined 2 scenarios we are likely to believe are most probable to play out. From the chart, post-consolidation you can see Ethereum attempting to move upwards. There is resistance in the previous swing high, or $350 USD. Stay out on the look for a Doji or any candlestick pattern(s) signaling indecision or buyer exhaustion towards the top of the $350 resistance level. This would signal movement back to the uptrend support like around $300-$310, or a play-out of the second scenario, as shown by the blue arrows. If a green candle closes above the $350 resistance level, that is a signal that the first scenario will play out, & that is that the current run breaks through the resistance level and on to the $350s+. I'm led to believe that the second scenario is more likely, as this pair seems to have gotten very slow towards the resistance level over the past few hours. If this is true, I will place buy orders towards the bottom-half of the up-trending support line, and set my stop losses 7-10% below my entry. If the top or $350 resistance level is broken, I will place another buy order with a stop-loss around $330 USD. I have already entered at $340, but it seems to have fallen to high $330's and having a hard time breaking $340 USD again. Personal Opinion I strongly believe in Ethereum's technology. It has minimal competitors and of course was first-to-market, giving it a similar "throne" to the one that bitcoin holds. I think it is not unrealistic to expect Ethereum to be valued more than bitcoin in the future. Ethereum's technology is much more applicable in real-world cases and can serve as a mediator to provide a wide variety of products, services, and smart contracts that could not have been created before. There are also altcoins that have better features than what Bitcoin was created for, as many of them can provide more anonymous, quicker, and cheaper transactions. These include Verge (anonymity), Monero(anonymity), Ripple(speed+affordability), and Litecoin(speed+affordability). Fundamentals I think the team will bring new things to the table very soon. As you can see, he is very active, and although not working all the time, very often discussing it. Thank you for reading my analysis, you can check it out at: thecryptolabs.com
BITSTAMP:ETHUSDLong
by JCBCrypto
2
[ETHUSDT] Trade IdeaSo Etherium just topped at the resistance level previous stabilished around 328, so this is a bad time to get in, but as we can see at the daily chart things are looking positive so the tide is on favor for a positive movement. Yet we just topped and if you look at smaller time frames all indicators point for a intraday readjustment, so would be smart to buy near the support level(green lime) when the indicators start to show a reversal. Buying nearby the support line would give you a small down side and it would allow you to still get out with profits in case it fails to break the red resistance of 328. In case the resistance is broken and the ascending triangle pattern is confirmed, we can set a sell target at 340 and if you have nerves 350. My backtesting of ascending triangles with crypto with more than 100 trades shows a possibility of 65% of reaching that sell target in case the breakout is confirmed. Breakout entry tip: buy above the highest of the first candle that the lowest and highest closes completely above the red resistance line at 328. Completely above means completely above, it means that even if the lowest is still under the breakoutlevel (328) I'd keep out, trust me this will make this trade fail proof. Don't be stupid like me yesterday on ripple buying near the resistance level and praying because indicators looked good (took a 3% loss). Play safe, win always.
by spectertrading
3
ETHEUR: Potential uptrend continuation soonThe ETHBTC chart implies we need to wait until July 27-29th at least, but the fiat chart shows time can be a bit shorter for the start of the rally. There's still a chance to go lower during this time, so, I won't take action until it is clear we hold here for longer. I like how sentiment is quite negative on $ETH lately, and how people are scared about risks in $BTC as well. We can get a good uptrend continuation signal in the weekly timeframe soon, to rejoin the monthly rally, which is active until we hit that red vertical line on chart. Then we could see a larger correction back down, in a crash of epic proportions, or, simply, a slow and lengthy grind, to extend until 10 months later than that. In the short term, my reccomendation is to stay on the sidelines, but prepare to add cash injections to your crypto accounts once more, to buy into the $BTC and $ETH comeback close to the end of the month. I will get instant flak, for this chart, I'm pretty sure people will find the targets insane, but it is what the chart shows as possible/logical. Fundamentals seem alright to me, but once approaching this zone, I would be scared of a bullish sentiment extreme and a rapid 'bubble burst'. Cheers, Ivan Labrie.
Long
by IvanLabrie
73
ETHBTC: Chillax, once more...I'm flat and monitoring the action in $ETHBTC. I think we need to get some kind of sentiment reset to be able to buy it again. In general, I don't advocate shorts in cryptocurrencies, it is a lot more productive to trade the long side only. There are some fundamental risks at play, which would be interesting to see Vitalik Buterin and friends iron out succesfully. For now, I remain skeptical, and the market's exhuberance doesn't do much to calm my anxiety. I will let it form a new buy signal and follow the developments closely to buy back when viable. Best of luck, Ivan Labrie.
by IvanLabrie
15