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ETHEUR trade ideas

ETH will follow BTCHi All, The whole crypto market is in correction mode. ETH will probably follow Bitcoin on his journey to 8500 $. As we can see ETH failed to break the descending trendline - the price was rejected to the downside. RSI indicator gives a lot of space for a further drop. I expect the price to bounce of the 100 MA which also converges with the 50% Fibonacci retracement. This bounce will form the right shoulder and complete the bearish H&S formation that is hanging just below the descending trendline. The price should drop to around 500 $ - 530 $ to meet the major ascending trendline and the 61.8% Fibo retracement area. Hope it helps. Good luck!
Short
by lucamodena
ETHEUR moving to complete a wedge - beginners opinionThis is my first published tech analysis idea so please be gentle. I'm happy to hear some feedback though, I really wanna learn this stuff. So lets jump right into it. Looking at the 4h chart of ETHEUR we see that we broke the downward channel (red line) on 02-26. What I think to see in this pattern is a rising wedge (green deshed line) which will complete at 03-03 09:00 (very roughly). Right now we bounced off the EMA50 (yellow line) nicely and the EMA200 (blue line) is getting closer to the top wedge line which might become the resistance till the wedge pattern completes. You know what they say about rising wedges, we need to have a look at the bottom line. If it breaks out to the bottom the price might fall to 6.1k - 6.5k. But if the wedge completes it might be the signal for a lift off. Share your thoughts and leave a comment. I'm excited what you think about it. I'm very excited to get back to this in a few days, seeing what happend.
by Alfred_Hitzkopf
4
The Bull & The Bear Cross Paths POSSIBLE DANGER (ETH)Hello everyone, Some new, outside the box thinking for the hunting trip again. I am in a long position right now, but I didn't realize the urgency about this breakout until now. From my findings It seems that the previous breakout attempts are linear with the first and second one that failed. (See the blue triangle upper trendline lining up perfectly with the previous breakouts to the current breakout). You could also spot the drop that occurred after that HS pattern that was partially formed outside the downtrend line ("The breakout(s)"). This Makes me VERY nervous when i was analyzing the current breakout, and for those who don't know what im talking about, I'm talking about the MASSIVE H&S forming (faint dashed red lines). Sure, many have probably spotted this, but this does NOT mean it will materialize by any means, if you look at the first left shoulder thats within the red dashed line, it actually rallied up to form the current head, and now we are at the right shoulder. So we should not over read into this, but you should definitly prepare for such outcome. So my conclusion of the current chart is that we are in a last stand with the bears, it's do or die, i don't see another option but to go back and re-test the 0.236 support if we don't rally from here. We have a standoff and the winner will be revealed very soon, stay safe and good luck!
by ethhunter
24
ETHEURHi guys My only concern with ETH at the moment is that the drop in price from the recent highs could count as a 5 wave down. If correct then that could have been the minor count of an A wave, meaning that the B wave is underway which could end soon. If this proves to be correct then the C wave will cause ETH to drop lower than the A wave before ETH actually gets going to the upside again at a later stage. This looks like a classic ZigZag BUT as always this is just my view:) *I used ETHEUR, the same thing is present on the ETHUSD pair. All the best Richard
by CycleForecast
ETH/EUR Chartpack - Technicals & Trade SetupETH/EUR forms whipsaws on 7-SMAs, shooting star and hanging man evidence failure swings – See upside only on break-out of stiff resistance: Shooting star & hanging man have occurred at 710.59 and 706.79 levels respectively. These bearish patterns have hampered the previous bullish sentiments, consequently the trend forms whipsaws after that brief upswings. The whipsaws after the uptrend are deemed as a bearish signal and vice versa (refer 2H chart), however, the indication should not be studied in isolation. Both leading and lagging indicators are not indicating the momentum and trend confirmation on this timeframe. Well, for now, further upswings likely only on break-out of stiff resistance of 711.17 and for long-term traders and investors, a decisive break out above the stiff resistance of 717.0004 (i.e. 21EMA) is closely watched by aggressive bulls. Even on daily terms, the ongoing upswings are firmly restrained below 21EMA, and subsequently, the trend goes in sideways struggling for momentum. Hence, contemplating above technical rationale, one can think of buying etherium against euro only after a convincing breach of 711.17 on trading terms and above 717.0004 on long terms. Currency Strength Index: FxWirePro’s hourly EUR spot index has shown 85 (which is bullish ahead of the data announcements of German and Spanish CPI prints followed by M3 money supply) while articulating (at 05:45 GMT)
by FxWirePro
ETH Twists & Turns, Overall Bearish. ETH 1D chart is showing a strong overall bearish movement and could possibly form a Gartley or Butterfly or H&S. All of them shows the market could take a wrong turn and bears will defeat bulls in coming weeks. From the patterns, one of the possibility is that ETH can retest its bullish strength to fight bears at 770ish resistance. IF fails then boom and it will break the current support and will go back to the previous support which is arround 530ish area. MACD is not looking so good and going to cross the 26 line which is a strong sign of down trend. RSI is again < 50 (what else are you looking for). When looking at volume histos, newbies are scared already. Grab a pack of popcorn and some snacks with chili dip to watch some spicy dips. PLAY at your own risk. see ya!!
by CheetahTrader420
2
ETHEUR: Double or Triple combo?Great, we seem to have completed a double combo (WXY), and the wave is now retracing. I entered a long position at €643 and am expecting a respectable retracement to at least .5 fib levels. I'm laddering sells at various price points at the .5 and .618 ranges. Now, the tell tale sign for whether we are continuing in a bearish trend or back into a bullish trend will be whether or not a wave failure occurs after the five impulse waves up. If we see a wave 3 forming, then we can start re-positioning for an uptrend. if not, then expect to see a further Z wave down (marked as dotted lines; bottom is just a possibility; note that it does not have to be a zigzag and can instead be a flat or a truncated wave)
by rafa_10