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Ethereum May Consolidate Briefly Before Continuing Magical ClimbThis price analysis was absolutely mandated after the extreme price action for Ethereum in recent days. Thus, this price analysis will be taking a look at what’s happened to Ethereum over the past few days/weeks, and develop a forecast for future price action via technical and chart analysis. The first thing that we must acknowledge is that Ethereum is up over 40% over the last two weeks, which is an astronomical gain for Ethereum. When ‘scrolling out’ from the chart, we can see that Ethereum is getting close to its previous localized high, which occurred in early January in anticipation of the Constantinople hard fork (which was cancelled last minute). In order to gain more insight on Ethereum, we’re going to move to the daily resolution. In the picture above, we can see that Ethereum broke a major, long-term downtrend resistance that had been established on May 5th, 2018. From the picture above, we can also see that this downtrend resistance was very well-tested and that it occurred at a very sharp angle, making it a formidable resistance for the price action. Volume Confirmation One of the telltale signs that a major downtrend resistance has truly been broken is a major spike in volume to accompany the breakout. We can positively identify that there was a volume spike that correlated with the ‘breakout’ candle. This is notable because this helps separate the difference between a ‘real’ and ‘fake’ breakout. Important Note Whenever analyzing trendlines that span over several months with such a variable stretch of data, one must switch to the ‘logarithmic’ chart setting in order to properly account for the distortion of data. Support and Resistance Points From here, let’s see if we can establish some notable support and resistance points for Ethereum. The first, and most obvious overhead resistance (from looking strictly at the chart), can be identified at $156 on the daily resolution. This marks the previous localized high for Ethereum. In the chart above, we can see viable support at the $123 mark on the daily resolution based on a simple chart analysis. Exponential Moving Average There is always a lot of information that can be gleaned about price action from the EMAs (Exponential Moving Averages). Again, due to the volatile nature of crypto (we just saw Ethereum jump 40%+ in two weeks), EMAs are the author’s preferred MA because they place ‘weight’ on more recent data points in a way that simple moving averages do not. So, let’s take a look at the Ethereum chart on the daily resolution. In the chart above, we can see that the EMA-12 (red line) has crossed over the EMA-26 (green line) on the daily resolution, which is a good sign of positive and strengthening price action. The price is also above both EMAs, making these EMAs supports. The EMA-12 and EMA-26 for Ethereum are at the values $126 and $121, respectively. Which corroborates our earlier assessment of the $120-$125 price range serving as a support for Ethereum. In the chart above, we added the EMA-50 (golden line). The EMA-50, in particular, tends to have the strongest impact on price action for cryptocurrency on the daily resolution. So, this is one that is worth paying close attention to. As we can see in the chart above, like the previous two EMAs that we looked at, the price has crossed above the EMA-50, which is a huge sign of price strength for Ethereum. We can also see that the price successfully tested the EMA-50 for a few days before continuing upward, breaking past the long-term downtrend resistance. The EMA-12 has crossed above the EMA-50 as well and it appears that the EMA-26 is curving upward to overtake the EMA-50 as well. It is always bullish when EMAs with shorter look back periods are at a higher value than EMAs with a longer lookback period. In the chart above, we have added the EMA-100 (blue line) and the EMA-200 (dark red line). Surprisingly, the price action for Ethereum has exceeded the EMA-100, which is a huge deal. The EMA-100 currently sits at the value of $139 on the daily resolution at the time of writing. The EMA-200 is far off into the ‘distance’ at a value of $202. If and when the price reaches that point, this should be considered a noted overhead resistance. Ichimoku Cloud for Analysis Similar to Bitcoin, the price action for Ethereum has completely broken north of the Ichimoku Cloud. The top of the Ichimoku Cloud should be considered resistance and it is currently holding a value between $125-$130 on the daily resolution. Relative Strength Index The RSI(7) for Ethereum (daily resolution) is posted below: As we can see in the picture above, the RSI(7) is heavily in the overbought zone. But this, by itself, does not necessarily that the price action is due for consolidation in the near future. Zooming Out to the H4 Resolution On the H4 resolution, the value for the RSI(7) is at 58.72 currently. Its plummeted pretty significantly and is in line with the current price action for Ethereum (thus, no divergence). One Thing Worth Noting This is negative divergence in an unconventional sense (since we’re used to seeing the RSI make lower lows while the price increases), but it is negative divergence nonetheless. Again, this is on the H4 resolution, so there are not major consequences for the price, but this should be noted. Zerononcense Double Guppy Channels (Custom) Going back to the daily resolution, we can see from the chart above that the ZN Double Guppy Channel indicator is screaming to us that the price for Ethereum is due for a correction to fit within the channel (orange portion). Conclusion It appears that Ethereum will lightly consolidate in the next few hours/couple of days before continuing its path ever upward. There are several more points of analysis that were not included within this price breakdown for the sake of not rambling on about the price forever. However, consolidation seems imminent. Therefore, this is the author’s proposed trading idea (R/R): Disclaimer: Nothing written about should be construed, perceived or accepted as financial advice. This is not written in advocacy of any personal finance strategies. The information above is simply an idea being promoted as an example of how one can form their own independent trading strategies. Whether the author has designated that they would place a long or short position or abstained from trading is solely their own prerogative; it is not meant to sway your own personal investment strategy.
BITSTAMP:ETHUSDShort
by librehash
2
ETHUSD Ethereum is falling in the BUY ZONE! Hi Guys, I know the charts look rough and the prices look like everything is tanking, but i think we are accumulating support for ETH at these levels, and as i had mentioned in my previous charts, ETHUSD is in retracing to a good buy zone around $575. We hope to see a bounce of 23% on FIB, where i think ETHUSD will find solid support. There are too many apps running on ERC20 to have everything just go to 0. ETHUSD should see a bounce back soon. Disclaimer: I am not a financial advisor nor shall you make any financial decisions based on my findings. These are for educational purposes only.
BITFINEX:ETHUSDLong
by arjanp100
2
Contingent $2500 Ethereum PriceWithin a year, Ethereum can surpass a $2500 price for a long strategy with medium to high risk. However, there are some contingencies. One of them is the possibility that EOS, one of the biggest hosted ERC20 tokens doesn't crash by then. John Oliver put it best, EOS is an application for building DAPPs hosted on an application meant for building DAPPs. The fact that they are hosted on the Ethereum blockchain and don't entirely rely on their own infrastructure seems problematic. Also they raised nearly 2 billion dollars without even having an entirely finished product. It doesn't seem to be entirely decentralized, is talked about badly by old BTC community members and seems to have a "VC" that bypasses regulations before they even have their own full product out there. Not saying EOS is a scam, or that they are a bad product. However, one of the contingencies is that if EOS is a bubble that is gonna eventually burst, Ethereum would have a hard time surpassing $2500 if that happened beforehand. Another problem that can occur are certain regulations that may effect Ethereum country wise. This may also become evident in the South Asian market.
BITFINEX:EOSUSDLong
by gamer456148
24
#ProCryptoNetwork Post 5: EOS TA 5/15Good Evening World, Your friends from ProCryptoNetwork bring you their Daily BITFINEX:EOSUSD Technical Analysis , please keep in mind that this information is not a recommendation to buy or sell. It is to be used for educational purposes only. Good Luck... Donate Ether and Ethereum-Based (ERC-20) Tokens: 0x591b5D9Ff3CcB2469dAe842058b08F286F075480 Donate Bitcoin: 3Nz5CE5fs2bGHCrtAKLNQ4e6SfU1tfEBac MUST HAVES Become a TradingView PRO, Pro Plus and Premium Member: goo.gl Trezor Hardware Wallet: goo.gl Ledger Hardware Wallet: goo.gl Disclaimer: *Nothing we state, share, express, or allude to should be considered professional advice or recommendations of action. This analysis is intended for entertainment purposes only. All content contained within is all just my own opinion and experience. Consult a professional for any tax, accounting or legal related questions you may have.
BITFINEX:EOSUSD
by PRod-Sr
5
Ox how high?Coin of the day is Ox Just to remind you, 0x(ZRX) is an open protocol designed to offer a decentralized exchange as part of the Ethereum blockchain (ERC20 standard). 0x is made using a protocol that involves Ethereum smart contacts that allow those around the world to run a decentralized exchange. 0x, at its core, is an open source decentralized exchange protocol, so any use case that involves the trading of different assets can eventually be built using 0x. Technicals The reason for frequent updates on Ox coin is that it is one of the few coins that has already recovered from the global drawdown and now testing the all-time highs. Crucial level for ZRXBTC is 0.0002, which is already higher than the 27.01.2018 peak. Today’s volume distributed above the 0.0002 level, which is a sign of a possible further rally. There is no point to buy the coin near such high levels if you don’t expect it to go higher. Bullish Trend Line and 0.00018 level have to hold firm for the bullish scenario. The first target in case of the breakthrough should be 0.00022 to confirm the breakthrough, or 0.00025 as a 100% profit point for the traders who bought at the 0.00005 bottom.
Long
by DestinationMoonCrypto
2
ZRS does not afraid of BatchOverflow and goes UPCoin of the day is Ox. 0x is an open protocol that is designed to offer a decentralized exchange as part of the Ethereum blockchain. 0x is made using a protocol that involves Ethereum smart contacts that allow those around the world to run a decentralized exchange. 0x, at its core, is an open source decentralized exchange protocol, so any use case that involves the trading of different assets can eventually be built using 0x. The idea of decentralized exchanges is becoming more popular in modern times when ordinary exchanges do not withstand the loads from the influx of customers. In March 2017, the protocol closed a huge round of financing, which was headed by Polychain Capital. Latest news April 25 - BatchOverflow attack on ERC20 tokens. ZRX tokens are not vulnerable to this issue. So, the news did not harm ZRX tokens by any means. (Affected tokens, according to media reports: MESH, UGToken, SMT, SMART, MTC, FirstCoin, GG Token, CNY Token, and CNYTokenPlus.) Technicals ZRXBTC had a rebound and went on an upward trend on the 18.03.2018. Since then the price overcame all Bearish Trend Lines, broke above 100-days and 50-days EMA. At the moment ZRX trades in the 23.6% Fibonacci zone of the global uptrend, which is the last zone before the new highs. Daily volume peak distributes above the 0.00016 level, adds confidence in the further development of the uptrend. Minor resistance is 0.00017 level, breakthrough of which will lead the price to the highest point of the price 0.00019 and possibly psychologically significant 0.0002. Bullish Trend Line and 0.00015 - 0.00016 zone should serve as a support for the uptrend scenario.
Long
by DestinationMoonCrypto
AirSwap showing signs of life-After being eradicated during the spring bear market, AirSwap is beginning to show signs of life. It is up 50% in the last week, and is posturing itself to break out with the majority of alts. Fundamentally it is showing signs of life after hints of a rebrand and logo change, as well as the strong leadership of founder/mathematician Michael Oved, who was named as one of the best men to help bridge the gap between crypto and Wall Street. Also, I am not good at TA and don't claim to be. I am not giving anyone advice or telling you to make a trade, simply showing a chart I am bullish on.
A
by ceoluffy
Potential for New All-Time High? 0x! (ZRX)Good day traders! 0x is an amazing project and I have a lot of faith in the team. They're producing a decentralized exchange, and many projects are building on it (e.g. Augur, District0x, Status). After the upward rally yesterday we're slowly reaching the end of the ascending triangle (continuation pattern). I have conducted 2 scenarios: Bullish: We break above the resistance soon, like the pattern suggests we would. Bearish: On the other hand Cryptos are so unpredictable and not all patterns apply. We could also fall down to the $1.5 Support. (Or even further) --This is NOT financial advice. Please make your own research before investing in any asset-- I wish you successful trades!
POLONIEX:ZRXUSD
by Kayainvestor
1