ETHUSDT.P trade ideas
ETHEREUM, IS $2700 IMMINENT?Looking at the volatility in the market in recent times and the unpredictability of the market, I am wondering if we should be targeting the $2700 area for ETHUSD.
If the Resistance TL holds through, we may head down to 27 hundred zone.
ETH Plunges 19%, Time To Buy the Dip?As of the latest 4-hour chart analysis, BINANCE:ETHUSDT is exhibiting bearish signals across multiple technical indicators, suggesting potential downward pressure in the near term. The most recent closing prices have been declining, with ETH closing at $2,339.96 after previously closing at $2,312.72, $2,688.92, $2,757.55, and $2,826.98. This downward trajectory indicates that the selling pressure is mounting.
The 9 EMA (Exponential Moving Average) and 20 EMA are both trending downwards, with the 9 EMA currently at 2660.85 and the 20 EMA at $2,839.74. This indicates a strong bearish sentiment, as shorter-term momentum (9 EMA) is below the longer-term trend (20 EMA). Typically, such a crossover suggests that the market may continue to experience bearish momentum.
MACD (Moving Average Convergence Divergence) values are firmly in negative territory, with the MACD line below the signal line. The most recent MACD value is -175.27 with a signal line at -118.55, producing a histogram of -56.72. The widening of the MACD and signal line indicates increasing bearish momentum, with the histogram further confirming the strength of the downward trend.
RSI (Relative Strength Index) values are deeply oversold, with the latest reading at 12.57. Values below 30 typically indicate oversold conditions, suggesting that the asset might be undervalued and due for a potential reversal. However, the RSI being this low also underscores the current bearish pressure.
The Ethereum price is approaching key resistance levels at $3,032.55, $3,066.83, and $3,083.47. Should the price attempt a recovery, these levels will be crucial to monitor. Breaking above these levels would be necessary for any potential bullish reversal, yet the current indicators suggest this is unlikely in the immediate term.
Potential Trading Strategies
Considering the current bearish trend, caution is advised for entering long positions. Potential entry points could be considered if there is a clear reversal signal near oversold conditions on the RSI, combined with a bullish crossover on the MACD. An exit point could be placed just below the resistance levels, specifically around 3032.55 to manage risk effectively.
The prevailing trend favors short positions. Potential entry points could be at or near the resistance levels mentioned ($3,032.55, $3,066.83, $3,083.47), anticipating that the Ethereum price will fail to break through these levels. Exiting these trades could be considered as the Ethereum price approaches key support levels or if a bullish reversal signal is confirmed.
ETH - Entering Key ZoneEthereum has had a massive collapse today as Jump crypto faces some sort of issues. This has lead to over a 20% decline in a single day, but has also lead us to the most important level of price action for ETH to hold (especially with candle bodies on HTF). This zone ranges between $2,000-$2,150 with about $2,100 being the key level of interest.
Here are some previous posts where Viaquant has outlined the importance of this level:
ETHUSDT - LONG [Daily Signal] [Update]Nothing really changed, still waiting for reversal and accumulating longs in alts with small leverage.
$ETH Due for a BounceBINANCE:ETHUSDT
This could be ripe for a big bounce as it is currently sitting at the lower channel
ETH ANALYSIS (potential reversal)🔮 #ETH Analysis 🚀🚀
As we can see that #ETH was trading in a descending channel and given a breakout and make a bullish movement and right now same structure is forming and at the crucial support zone. We can see bullish movement or a reversal from its crucial support zone 💸 💯🚀
💸Current Price -- $2740
📈Target Price -- $3950
⁉️ What to do?
- We have ETH crucial levels in the chart . We can trade according to the chart and make some profits. 🚀💸
#ETH #Cryptocurrency #DYOR
ETH, 7 months ago we were here.BINANCE:ETHUSDT
As i said, seven months ago we were here. Back to the point. The yearly open is on 2,100$ from now. It must to rebounce from here or at least to stay longer in this range to do a consolidation in highers prices.
ETH-USDT 12HInterval Chart ReviewHello everyone, let's take a look at the ETH to USDT chart on a 12-hour time frame. How can we see how the downtrend channel has been defined for us, in which we are at the lower border.
Let's start by determining the support line and here you can see how the support at $2,823 has been broken and we are currently approaching the strong support at $2,626, while when we start going further, the next support is around $2,392.
Looking the other way, there is resistance at $2,922, and then the price will again have to face the resistance zone from $3,098 to $3,225.
ETH long - swing trade We're currently broken below the sellside (red line) we noted earlier.
Taken a long position looking to target the HTF buyside sitting around 3.9K.
Entry 2700
TP 3985
SL 2300
A clean break and hold below 2.5K and the trade idea is invalidated.
The overall crypto market is currently flushing down as BTC broke below 60K.
No need to front run the market...simply FOLLOW THE MARKET AND TRADE WITH IT.
Let's see where the market wants to go from here.
Stay safe and never risk more than 1-5% of your capital per trade. The following analysis is merely a price action based analysis and does not constitute financial advice in any form.
Bear trap ahead - Giant "fake" SHSSo, as I mentioned in my previos analyis on ETH I said that I won't rule out another stop hunt below ~2800$ for ETH and this is the reason why I believe so: If you are a bear, this is probably what you are looking at: A huge IHS with the neckline around ~2825$ which would give a target of 2k. But knowing the market for almost 10 years now I think I know what happens next :)
These huge and OBVIOUS shoulder-head-shoulder patterns fail almost every time, or at least >90% of the time. So pretty sure we are about to see a nice bear-trap coming days which means a stop hunt below 2800 to ~2700-2750$ hold there for 1-2 days and then see an aggressive push above the "neckline" again.
Do what you will with this information :) I start longing from the range lows with bids down to 2700$
Stay safe!
ETH USDT buyside idea. Etherum tapped into mean threshold of weekly timeframe, if we combine technicals with fundamentals then i believe Etherum will mark reversal from current price and 4000$ will be intrinsic target within next couple of months.
It will be well over 45% gain from current price.
ETHUSDT Buy IdeaBINANCE:ETHUSDT is trading over price range of 2800$ which acted as a strong support level in the past. Currently, We can expect it to retest this level and bounce up from here. Looking for buy setups at this demand zone
ETHUSDT Breaks Support: Preparing for a Bearish Move?ETHUSDT on the daily chart has broken below the ascending support line, indicating a potential shift to a bearish trend. This breakdown suggests further downside potential unless a significant recovery occurs.
ETHUSDTEthusdt looks like in a correction mood. can go towards the phsychological support. Although btc looks bullush in the current price action. lets see how it plays out. it a risky call. will be confirmed once price breaks down point B.
Eth, the plan I have.I am just waiting the market reaction on monday on BINANCE:ETHUSDT to see how is going to be my plan for next week. I am expected to mittigate the fair value and then, to see the market reaction going up.
ETHUSDT Daily Analysis Disclaimer: This is not a financial advice, just for informational purposes
Support Level: ETHUSDT has held this support of $2860.34 and $2708.70 since 17th February till date, acting as a solid point for a potential Upward movement.
Target: My target for this analysis is $3235.14. The reason is that this region is a potential resistance level for the market, but we will be looking out for a bullish/change in the current structure
ETH - Equal lows stop hunt?ETH seems to be a bit more tricky at this point... Now with the possible tailwind of the ETF, which in my opinion is not priced in yet, ETH should perform well eventually. But similar to what we have seen after the approval and listing of the BTC ETF, it seems to lack conviction.
When looking at the chart I see a possible danger right ahead: Equal lows. These usually get run for a nasty stop hunt, so this is what I would wait for before entering the market again. But again, just a WILD guess, anything could happen at this point.
To the upside 3.6k should be THE resistance to break for continuation, ETH should then pick up momentum and target the 5k level.
Stay safe!
ETH can go lower as long as it stays below 3250ETH can go lower as long as it stays below 3250
ETH broke a strong structure zone.
3250 seems to be closely monitored by market participants and is adding more value that it can be an important area for any price direction.
Price tested this area several times these days and if it stays below, chances will increase that ETH could test 3050 and 2900
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Is Ethereum losing its important support?The range of 2840 is an important support for Ethereum, with the failure of this support, it can fall to 2729 and in case of strength to the range of 2645. Otherwise, and price rejection from the support zone, we can expect the price to rise up to the resistance range of 3025 and then the range of 3200.
Ethereum Monthly and Weekly Analysis: Key Support and Resistance
Ethereum has initiated a 146% bullish wave on the monthly timeframe but is currently undergoing a rest and correction phase.
🔍 Fibonacci Retracement Levels from 1516 to 4114:
0.38 Fib Level: 2864
0.5 Fib Level: 2548
0.618 Fib Level: 2268
🔗 Weekly Timeframe Insights:
A 624-day long ascending channel is observed.
The price is currently interacting with the midline of this ascending channel.
The channel's bottom serves as a strong support zone around 2232 to 2505, which aligns with our PRZ (Potential Reversal Zone).
🛡️ Key Points:
This PRZ lies between the 0.5 to 0.618 Fibonacci retracement levels.
The 200 MA (Moving Average) on the monthly timeframe also converges in this area.
The psychological level of $2500 is significant, with nearly $2 billion in long positions that could be liquidated around this zone.
The horizontal channel target on the daily timeframe is also situated here.
📉 Daily Timeframe Observations:
Currently, Ethereum is in a horizontal channel on the daily timeframe.
The channel's bottom coincides with the weekly support at 2865. A break below this level might present a shorting opportunity.
💡 Strategic Suggestions:
For long-term holds and buying, it’s advisable to wait until Ethereum reaches the PRZ and exhibits a bullish reaction and momentum.
Alternatively, consider entering after a break above the daily channel.
For DeFi or lending and borrowing, $2500 could be an interesting entry point, provided your liquidation level is below $1500.
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#Ethereum #CryptoAnalysis #Trading #Fibonacci #SupportAndResistance #Tradecitypro #TCP
Categories:
Trend Analysis
Support and Resistance
Fibonacci Analysis
