ETH/USDT 1DAY CHART ANALIYSIS !!The chart shows ETH/USDT within a descending channel, highlighted by the purple lines.
There is a crucial support area between $2,800 and $3,000, represented by the orange and yellow shaded areas, indicating potential areas for buying.
ETH/USDT has recently bounced off the lower boundary of the descending channel, indicating that this support level still holds.
The upper boundary of the descending channel, along with the horizontal resistance around $3,600, forms a key resistance area that ETH needs to break to confirm a bullish reversal.
The green line (possibly a moving average) around $3,050 currently acts as a dynamic support level.
Recent price action indicates a double-bottom pattern around the $2,900-$3,000 range, suggesting a potential bullish reversal if confirmed.
If ETH/USDT can sustain above the $3,000 support, the next target will be the upper boundary of the descending channel and the horizontal resistance at $3,600.
A break below the $2,800-$3,000 support zone could lead to further declines towards the next significant support levels around $2,300-$2,500.
This analysis is based on a visual interpretation of the chart.
Consider using additional technical indicators and keeping an eye on market news and sentiment for a more detailed and accurate analysis.
Remember: This is not financial advice. Stay tuned to us for further updates and analysis. Thank you!
D-ETH
Potential bullish bounce?Ethereum (ETH/USD) is falling towards the pivot which acts as an overlap support and could bounce to the 1st resistance which has been identified as a pullback resistance.
Pivot: 3,068.18
1st Support: 2,879.57
1st Resistance: 3,373.99
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Ethereum: ReconsiderationWe expect Ethereum to drop into our Target Zone (between $2807 and $1813). There, we expect the low of green wave 2 to be placed, after which the next major impulse wave 3 should start, leading to a new high for the year. If the price climbs directly above the resistance at $4091 (40% likely), we will already see it in the green wave alt.3.
ETH analysis (4H)Ethereum has reached a valid supply, it is expected that this supply will reject the price towards the targets.
The targets are clear on the chart.
A liquidity pool is forming below the price, which is expected to break soon.
Closing a daily candle above the invalidation level will violate this analysis and view.
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
Ethereum Do or Die This CycleCRYPTOCAP:BTC has been outperforming CRYPTOCAP:ETH this entire cycle.
If Ethereum does not outperform Bitcoin by the end of it, consider it good as dead next cycle, akin to Cardano.
Clearly consumers have flocked to Solana for dApps, and Bitcoin is the store of value, which leaves very little room for Ethereum to carve out its own niche as they both continue to gain market share.
ETHUSDT.1DThe Ethereum chart highlights a robust uptrend that started early this year, peaking in February before entering a consolidation phase. This pattern indicates strong buying interest followed by a phase where traders and investors are assessing their positions.
Key Technical Observations:
Resistance Levels (R1 and R2):
The first resistance (R1) is at $3,430.29, which previously acted as both support and resistance, indicating a pivotal price point.
The second resistance (R2) at $4,134.34 represents the peak of the recent price rally and is crucial for confirming a continuation of the bullish trend.
Support Levels (S1 and S2):
The primary support (S1) at $2,837.73 is critical as it lines up with historical price reactions and the Fibonacci retracement level of 0.5, a common reversal zone.
The secondary support (S2) at $2,112.62 is near the 0.618 Fibonacci retracement, often considered the last line of defense in a bullish market.
Fibonacci Retracement:
The Fibonacci levels are drawn from the low of $1,521 to the high of $4,093.92, and they help identify potential reversal points. The 0.5 and 0.618 levels are particularly significant due to their common usage as decision points in price action trading.
MACD (Moving Average Convergence Divergence):
The MACD line is currently below the signal line, and the histogram is in the negative territory, which suggests bearish momentum in the short term. This requires close monitoring as a potential crossover above the signal line could indicate a shift back to bullish momentum.
RSI (Relative Strength Index):
The RSI at 53.85 is near the midpoint of 50, which generally indicates a balance between buying and selling pressure. However, the slight tilt towards the oversold territory suggests that there might be an upcoming opportunity for buyers.
Conclusion and Strategy:
Given the current market conditions and the technical setup, my approach would be cautiously optimistic. I would consider entering long positions near the S1 level with a clear stop-loss order just below this level to protect against unexpected downturns. Any approach towards R1 should be viewed with readiness to take profits, especially if accompanied by signs of fading bullish momentum, such as declining volume or bearish divergences on the RSI or MACD.
Trading around these key technical levels with a well-defined risk management strategy could potentially capitalize on the volatility and provide significant returns. However, it’s crucial to remain vigilant and adapt to any new market developments that could affect Ethereum's price trajectory.
ETH 's daily chart is extremely close to a massive breakoutReasons why:
⬨ Hidden bullish divergence
⬨ Tenkan-Sen's slope shows strong momentum higher
⬨ Cloud is very thin
⬨ DTO is at support
🎯 2024 Targets: $5,283 & $7,686
Things to look out for as continued bearish warning signs:
👉 The DTO falls below the zero line and remains below for more than four days
👉 There is a daily close below the Kijun-Sen
ETHEREUM ETFs are live! Is a new era of growth emerging?United States Ether exchange-traded funds (ETFs) posted net inflows of $106.6 million on their first day of trading. Ethereum (ETHUSD) saw the massive inflows led by BlackRock, Bitwise and Fidelity overcome the outflows from Grayscale and that may have set the tone of a new ear of growth for the market.
Much like Bitcoin's ETF launch back in January, ETH may see a similar rally that can finally take it past its All Time High (ATH). As you can see on this 1W time-frame chart, the post BTC ETD approval rally on January led to March's High. Another such Leg can see ETH past $5000 by September.
Apart from the undoubtedly great ETF news, this chart shows Ethereum's cyclical behavior, and as you can see, relative to the previous Cycle, its upside potential rests a little above the 1.5 Fibonacci extension level. That was the spot where the November 2021 ATH was priced. Our long-term Target range remains $10000 - $12000.
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💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇
Ethereum ETH ETF trading starts 23|07|24Rumor has it that ETH ETF trading will start tomorrow
If memory serves, with the start of BTC ETF trading, the price of Bitcoin 💰 rose briefly, and then a 2-week correction followed... And then there was a without correcting rise #BTCUSDT price from $40 to $70k
We model approximately the same scenario on the OKX:ETHUSDT chart
As long as the CRYPTOCAP:ETH price is above $3000-3200, it is a strong asset.
P.S:
Exactly three years ago, on July 20-21, 2021, there was the final bottom of the “painfully” correction, and then was another six-month bull run in the crypto market.
Conspiracy theorists and reptilians love these dates and numbers ;)
ETHBTC📊Analysis by AhmadArz:
this analysis for jumping ETH to BTC in low support ... just wait for give zone .🚀
🔗"Uncover new opportunities in the world of cryptocurrencies with AhmadArz.
💡Join us on TradingView and expand your investment knowledge with our five years of experience in financial markets."
🚀Please boost and💬 comment to share your thoughts with us!
Ethereum Price Forecast📊In the W1 , we had the same movements that caused the price to stop in those levels , and according to the past chart, we can expect a stop at the 3300$ and 4470$ levels in the next price movements, which will lead to a deep correction.
🔗 For more communication with us, send a message in TradingView.
ETH: Reaction to leve-priceAnalysis by ahmadArz📊 ETHUSDT
This chart represents the Ethereum to Tether (ETHUSDT) pair on a 4-hour timeframe. The analysis of the chart includes several key price levels and potential price movement patterns.
1. **Key Price Levels:**
- **$3950.23**: A strong resistance level where the price has reacted in the past. 📈
- **$3720.77**: Another resistance level near the current price (3736.24). 📊
- **$3410.90**: A support level to which the price might return. 📉
2. **Potential Patterns:**
- Two curved arrows indicate two possible scenarios:
- **Bullish Scenario**: If the price breaks above the $3720.77 level, it is likely to move towards the $3950.23 level. 🚀
- **Bearish Scenario**: If the price fails to break the $3720.77 level and declines, it might reach the support level of $3410.90. 🔻
3. **Reaction to Price Level:**
- The text on the chart "Waiting for reaction to level-price" suggests that the analyst is waiting for the price to react to the $3720.77 level to decide which direction the price will move. ⏳
4. **Black Arrows:**
- The black arrows on the chart indicate key points where the price has reacted in the past. 📍
In summary, this analysis suggests that if the price can break the $3720.77 resistance level, it will likely move towards the next resistance at $3950.23. However, if it fails to break this level, it might return to the support level at $3410.90. The analyst is waiting for the price reaction at these key points to determine the next direction.
ETH’s influence on ERC20 products like YFIInfluence on ERC20 Products
ETH’s influence on ERC20 products like YFI can be seen in several ways:
Liquidity: ETH’s large market capitalization and liquidity provide a foundation for ERC20 tokens like YFI to tap into, enabling efficient and reliable transactions.
Smart Contract Interoperability: ETH’s presence ensures that smart contracts, including those for ERC20 tokens like YFI, can interact seamlessly with each other and with the broader Ethereum ecosystem.
Developer Adoption: ETH’s widespread adoption and established developer ecosystem encourage the creation and development of new ERC20 tokens, including DeFi protocols like YFI, which in turn benefits from ETH’s infrastructure.
In summary, ETH’s influence on ERC20 products like YFI is indirect yet significant, providing a stable and liquid foundation for the Ethereum ecosystem and enabling the development and growth of #DeFi protocols like #Yearn.finance.
Important section: 3265.0 ~ 0.618 (3543.65)Hello, traders.
If you "Follow", you can always get new information quickly.
Please click "Boost" as well.
Have a nice day today.
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I think that the cause of the large volatility in the investment market is various political, economic, and social causes that affect the investment market.
Therefore, I look for various issues or news.
However, I think that these causes rarely directly affect the investment market.
Therefore, I think it is better to first understand the flow of funds or charts of investment products and then look at various issues or news.
Otherwise, you may interpret various issues or news from a subjective point of view and proceed with trading in the wrong direction.
I hope that you always keep this in mind and maintain objectivity when conducting trading.
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(ETHUSD 12M chart)
ETHUSD chart is an INDEX chart provided by TradingView.
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The first rising wave rose to around 0.886 (1384.76), and the second rising wave rose to around 3.14 (468.08).
The wave we should pay attention to is the second wave.
Since the third wave is in progress after the second wave, I think it needs to rise above 0.707 (3879.94), which is the downtrend point of the second wave, to eventually create a new rising wave.
The 0.707 (3879.94) point corresponds to around 2.618 (3918.46) of the first rising wave, so we can see that it is an important location.
-
Also, you can see that the 0.5 (3092.49) point of the second rising wave is important because it is near the 2 (3014.40) point of the first rising wave.
Therefore, if there is an additional decline, you should check if it is supported near 0.5 (3092.49).
-
If the price rises above 0.618 (3541.38) of the second rising wave and maintains, I think it is likely to rise to near 1 (4994.56).
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The INDEX chart is a chart that synthesizes charts provided by multiple exchanges, so it cannot be used directly for trading.
Therefore, you can use the INDEX chart to analyze the chart.
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(ETHUSDT 1M chart)
The ETHUSDT chart is a Binance exchange chart.
-
The 3321.30 point is the HA-High indicator point on the 1M chart.
Therefore, it means that a high point section has been formed at the 3321.30 point.
Therefore, if it is supported near 3321.30, it means that a new high point, that is, a new upward trend, is likely to be formed.
If it falls without support, it will create a downward wave.
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(ETHUSDT 1W chart)
It shows a downward and re-entered pattern in the rising channel.
Therefore, the key is whether it can maintain the price by rising above 0.618 (3543.65).
If not, it should check whether it is supported near 3265.0-3321.30.
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If it falls below 3265.0-3321.30, there is a possibility that it will fall near the HA-Low indicator of the 1W chart, so you should think about a countermeasure for this.
Currently, the HA-Low indicator of the 1W chart is formed at the 1340.12 point.
As the price falls, there is a high possibility that a new HA-Low indicator will be created, so it is necessary to check where the HA-Low indicator is formed.
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What we can do from the current position is to check whether it is supported near 3265.0-3321.30 or near 0.618 (3543.65).
If it is supported near these two areas, you can start trading (buying).
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(ETHUSDT 1D chart)
The chart may look complicated, but if you understand the important points or sections I mentioned in the explanation of the 1M, 1W charts above, I think you will have no difficulty in looking at the chart.
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The section with the circle drawn is likely to play an important role as support and resistance.
So, if you look at it broadly,
1. 3014.05-3321.30
2. 0.707 (3883.16) ~ 4093.92
You can see that the above 1 and 2 are forming large support and resistance sections.
If we break this down a bit more,
1. 3014.05 ~ 0.5 (3093.51)
2. 3265.0-3321.30
3. 3503.68 ~ 0.618 (3543.65)
4. 3787.59
5. 3962.19
It can be divided into 1-5 above.
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The current position is not a good area to start trading.
The reason is that support has not been confirmed yet.
Therefore, I think it is better to wait until support is confirmed around 3265.0-3321.30 or around 3503.68 ~ 0.618 (3543.65).
-
Since the HA-Low indicator on the 1D chart is formed at 3079.59, it is highly likely that the step-down trend will start when it falls below 3079.59 at the current point.
Therefore, the support around 3265.0-3321.30 is the key.
-
Have a good time.
Thank you.
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- Big picture
It is expected that the full-scale uptrend will start when it rises above 29K.
The section expected to be touched in the next bull market is 81K-95K.
#BTCUSD 12M
1st: 44234.54
2nd: 61383.23
3rd: 89126.41
101875.70-106275.10 (overshooting)
4th: 13401.28
151166.97-157451.83 (overshooting)
5th: 178910.15
These are points where resistance is likely to occur in the future.
We need to check if these points can be broken upward.
We need to check the movement when this section is touched because I think a new trend can be created in the overshooting section.
#BTCUSD 1M
If the major uptrend continues until 2025, it is expected to start forming a pull back pattern after rising to around 57014.33.
1st: 43833.05
2nd: 32992.55
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Suspicions of an Ethereum correction.Hello everyone. I suspect that Ethereum might correct to the $2,800-$3,000 range. The drop could be around ±20%.
Market makers might want to execute one last shakeout of long traders before initiating alt season and a bullish run. Don't forget about projects like Hamster Kombat, which could bring 100-200 million people to crypto exchanges (rumor has it the token listing has been postponed to August 18, 2024).
#eth #ethereum
ETHEREUM → 4K Target. Waiting for SEC with ETH-ETF ↑BINANCE:ETHUSDT is ending the sell-off phase. Buyers have held a strong support area, forming an intermediate bottom. The liquidity capture led to a rebound, which can move into the phase of the uptrend continuation.
Fundamentally, the main focus is on ETH-ETFs. Earlier traders were positive about the initial rumors of approval, now the important milestone is the admission of ETFs to trading, judging by the feedback and SEC sentiment, this could happen very soon (within 1-2 weeks)
Technically, strong buyers appear in the 2800-2900 zone (judging by candlestick patterns and volume growth), restraining the market from falling and gaining momentum with the purpose of further strengthening (local price movement has a consolidation character).
The trigger area for buyers is 3200. Accordingly, further final consolidation of the price above MA-200 and breakout of 3200 may become the reason for strengthening, the target of which may be 4000-4800.
Resistance levels: 3200, 3357
Support levels: MA-200, 2868
Fundamentally, the situation is positive, traders are waiting for the news from SEC. Technically, on local timeframes there are prerequisites for a bullish mood, on D1 a rebound from strong support is forming. Accordingly, the overall tandem is signaling a possible further rise to 4K.
Rate, share your opinion and questions, let's discuss what's going on with ♦︎ ETHEREUM ♦︎ ;)
Regards R. Linda!
ETHEREUM ETF With the Ethereum ETF decision just days away, ETH has made a massive breakout play in an effort to front run a positive ETF outcome, the approval of VanEck and ArkInvest/ 21Shares ETH ETFs on the 23rd & 24th May respectively.
In terms of price action and charting this is how I see it. Now that price has broken out from the downtrend and hit the Bearish OB as shown, I think many were caught of guard and expected any sort of volatility to come on the day of the decisions. Instead it seems many have decided to front run the decision and go long which opens up more challenges. I think ETH had priced in a rejection of the ETF at ~£3K , with how the SEC has viewed ETH and it's stance on insisting it's a security, Coinbase estimated a 30-40% chance of an approval last weekend. Now that price has risen almost as if we already have news of approval I think that should the ETF be denied we could fall straight back down to $3K area with support areas shown as targets on the chart. This would print a Bart Simpson style pattern and many Longs will be devastated.
On the other hand, Bloomberg have said that the chances of approval has gone from 25% to 75% and the chart shows this new level of optimism. If the ETF is approved I could see ETH using this current level as a base to target new local highs and close the gap on BTC dominance.
Jul.16-Jul.22(ETH)Weekly market recapThe rise from the excellent CPI lasted for 10 days, and Biden’s quit from the next presidential election continues the bull trend. The pricing for CPI has ended. The market has once again entered a macro cooling period. We don’t think PCE on Friday will change anything. The next important macro event will be the FOMC release at the end of the July. Although it is almost impossible for the next FOMC to cut interest rates, bulls need to find reasons to maintain strength from the FOMC statement and Powell's speech.
Also worth paying special attention to in the coming week is the Bitcoin 2024 conference. Trump will take the stage to give a speech on the last day. If he really includes BTC as a strategic reserve of the United States as he said before, then BTC will be crazy about it.
On the other hand, the ETH ETF was officially approved a few hours ago, and will officially trade in the next session. This is a bullish event for ETH in the long term, but in the short term, the market reaction is not ideal. We believe that the trend of ETH may be the same as that of BTC through ETF. Take a break and then go up.
ETH encountered bearish strength after hitting 3500. The performance over the past seven days has been weaker than that of BTC. The ME indicator continues to maintain its bullish trend. But judging from the WTA indicators, like BTC, whale participation has been low in the past seven days, and even the transaction volume has continued to decrease.
In summary, we believe that ETH may remain fluctuating this week. The probability of rising is greater than falling. The approval of ETF will benefit ETH in the long term, and the ETH/BTC rate will rise. We maintain the resistance level 4000 and support level 2800.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Ethereum ETF Approval Met With Bearish Technical PatternBINANCE:ETHUSDT managed to print a slight gain over the past 24 hours to trade at $3,497.30 at press time.
This slight uptick in the ETH price comes after the U.S. Securities and Exchange Commission (SEC) approved the listing of multiple spot Ethereum ETFs (exchange-traded funds).
A Bearish Chart Pattern Forms on ETH’s Daily Chart
The Ethereum price was rejected by the major resistance level at $3,555 in the last 48 hours, resulting in a retracement to the 9 Exponential Moving Average (EMA) line. If the leading altcoin falls below this technical crutch, ETH might be at risk of falling to the $3,351.15 support, which is also confluent with the 20 EMA line.
Traders and investors will want to take note of the bearish rising wedge pattern that has formed on ETH’s daily chart. This specific pattern suggests the Ethereum price might undergo a strong correction. If this pattern is validated, the crypto’s price could fall below the $3,351.15 support and possibly fall to as low as $3,094.39 in the short to medium term.
However, the Ethereum price might still bounce off of the $3,351.15 support if the rising wedge pattern plays out. This could be a pull back before the altcoin rallies above $3,555 to potentially rise to $3,677.31.
This potential price drop might not even happen if ETH manages to close a daily candle above $3,555 within the next 3 days. In this alternative scenario, the Ethereum price might attempt a challenge at the aforementioned $3,677.31 resistance.
Technicals Warn the Ethereum Price Might Pull Back
Technical indicators on ETH’s daily chart warn the Ethereum price might drop in the next 48 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are on the verge of triggering major bearish flags.
Although the MACD line is currently positioned bullishly above the MACD Signal line, the narrowing gap between the two indicators warns that the positive cycle might soon come to an end. Meanwhile, the RSI is closing in on its Simple Moving Average (SMA) line on the daily chart, which could signal a bearish shift in strength if the two lines cross in the next 48-72 hours.