#ETH LONG TERM CHART ANALYSIS!!
Welcome community members in this post, I’ll be going through with ETHEREUM WEEKLY long-term chart analysis.
I recommend you all must read the description of this Chart to understand the more clear picture of BITCOIN’S upcoming possible scenario.
This chart is totally based on the past price action followed by ETHEREUM, to know the upcoming scenario.
DISCLAIMER: This is not financial or investment advice. This is for education and to understand the market sentiment purpose only. I am not responsible for the profits out of loss you generate from your investments. Trade and invest at your own risk.
ETH's next move in long-term prediction on the basis of past price action analysis.
DESCRIPTION -
CASE STUDY: 01
ETH was introduced on the 3rd of August 2015 after ETH was trading inside a triangle pattern from 03.08.2015 to 28.12.2015 which we can call an accumulation also. after 148 days of accumulation, ETH broke the triangle pattern and pumped almost 2156% in 168 days.
CASE STUDY: 02
After a pump of 2156% ETH again moved into and reaccumulation face by forming a bullish flag pattern which can be seen in the above-mentioned chart.
ETH was in reaccumulation face for more than 368 days which is more than a year.
CASE STUDY: 03
On 6th Feb 2017, ETH broke the bullish flag pattern and moved into a bullish mode and pumped well 11653% at that time it moved from $11 to $1120 in 343 days.
In between after reaching the price level of $380 ETH printed a correction of 57% towards the price level of $160 in 35 days and from that level, ETH created a rising wedge pattern and ETH followed it well.
CASE STUDY: 04
After reaching the price level of $1420 ETH was rejected from that level and broke down the rising wedge pattern at the price level of $858 and Continuously lost 56% in just 21 days.
After a 56% dump, ETH printed some corrections and moved upward almost 110% in 49 days at the price level of $812
CASE STUDY: 05
After reaching the $83 price level ETH moved between $80 to $90 for 3 weeks and bounced 276% in 189 days and reached the price level of $353 and got rejected from the resistance level of $360 and dropped down at the price level of $185 which was also a support level.
CASE STUDY: 06
ETH traded for more than 3 weeks at the average price level of $185 and bounced printing a new ALL-TIME HIGH of $4384 which was 3372% from the support level in 420 days.
After printing an ATH ETH again tossed 59% and reached the price level of $1724.
After a 59% dump, ETH again pumped 182% and reached the price level of $4867 in 112 days which was also a NEW ALL-TIME HIGH.
CASE STUDY: 07
ETH was trading inside the rising wedge pattern and ETH broke down a retested the lower trend line which is also a bearish trend continuation.
ETH till now dropped 51% from its current ATH and still counting.
In my opinion, we can see ETH in the $1500 to $1800 price range in the upcoming days.
ETH has a strong support level at this price range.
After analyzing the past price action ETH can move down again towards the $$1500 which is the longest strong support area for ETH.
After reaching the lower support we can expect on the basis of past price action if ETH is able to hold the lowest support then we can see a new ATH in the upcoming long run.
CONCLUSION :
1. ACCUMULATE 1.5K TO 1.8K
2. ONCE ETH TOUCHES THE LOWER TRENDLINE A MEGA RALLY IS EXPECTED THROUGHOUT THE MARKET.
3. LOOK AT THE LONG-TERM PERSPECTIVE.
THANK YOU.
I recommend you all must read the description of this Chart to understand the more clear picture of BITCOIN’S upcoming possible scenario.
This chart is totally based on the past price action followed by ETHEREUM, to know the upcoming scenario.
DISCLAIMER: This is not financial or investment advice. This is for education and to understand the market sentiment purpose only. I am not responsible for the profits out of loss you generate from your investments. Trade and invest at your own risk.
ETH's next move in long-term prediction on the basis of past price action analysis.
DESCRIPTION -
CASE STUDY: 01
ETH was introduced on the 3rd of August 2015 after ETH was trading inside a triangle pattern from 03.08.2015 to 28.12.2015 which we can call an accumulation also. after 148 days of accumulation, ETH broke the triangle pattern and pumped almost 2156% in 168 days.
CASE STUDY: 02
After a pump of 2156% ETH again moved into and reaccumulation face by forming a bullish flag pattern which can be seen in the above-mentioned chart.
ETH was in reaccumulation face for more than 368 days which is more than a year.
CASE STUDY: 03
On 6th Feb 2017, ETH broke the bullish flag pattern and moved into a bullish mode and pumped well 11653% at that time it moved from $11 to $1120 in 343 days.
In between after reaching the price level of $380 ETH printed a correction of 57% towards the price level of $160 in 35 days and from that level, ETH created a rising wedge pattern and ETH followed it well.
CASE STUDY: 04
After reaching the price level of $1420 ETH was rejected from that level and broke down the rising wedge pattern at the price level of $858 and Continuously lost 56% in just 21 days.
After a 56% dump, ETH printed some corrections and moved upward almost 110% in 49 days at the price level of $812
CASE STUDY: 05
After reaching the $83 price level ETH moved between $80 to $90 for 3 weeks and bounced 276% in 189 days and reached the price level of $353 and got rejected from the resistance level of $360 and dropped down at the price level of $185 which was also a support level.
CASE STUDY: 06
ETH traded for more than 3 weeks at the average price level of $185 and bounced printing a new ALL-TIME HIGH of $4384 which was 3372% from the support level in 420 days.
After printing an ATH ETH again tossed 59% and reached the price level of $1724.
After a 59% dump, ETH again pumped 182% and reached the price level of $4867 in 112 days which was also a NEW ALL-TIME HIGH.
CASE STUDY: 07
ETH was trading inside the rising wedge pattern and ETH broke down a retested the lower trend line which is also a bearish trend continuation.
ETH till now dropped 51% from its current ATH and still counting.
In my opinion, we can see ETH in the $1500 to $1800 price range in the upcoming days.
ETH has a strong support level at this price range.
After analyzing the past price action ETH can move down again towards the $$1500 which is the longest strong support area for ETH.
After reaching the lower support we can expect on the basis of past price action if ETH is able to hold the lowest support then we can see a new ATH in the upcoming long run.
CONCLUSION :
1. ACCUMULATE 1.5K TO 1.8K
2. ONCE ETH TOUCHES THE LOWER TRENDLINE A MEGA RALLY IS EXPECTED THROUGHOUT THE MARKET.
3. LOOK AT THE LONG-TERM PERSPECTIVE.
THANK YOU.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.