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Ethanalysis

Ethereum ready to take off!!?Looking at Ethereum vs Bitcoin we see a clear descending wedge which is very bullish in itself and as you can see to the left of our current wedge we had another descending wedge which blasted us upwards once we brokeout. Think we are looking very good overall and wouldn't put it past ETH to pull this off again! We have a very heavy support area below us shown by the rectangle, we have the pivot point which acts as support and then aswell as the bottom of the wedge which is also support, on the other hand though we do have a fair amount of resistance above us, the top of the wedge, the 0.2 FIB level, resistance at 0.0741 sats and then the R1 resistance. the beauty of this and the positive is the fact that we have had quite the correction and cooldown across the whole market and plus once we do start to see bullish momentum it is going to be explosive, plus don't forget the very bullish pattern we are currently in, once we start to take off i would say we can most likely easily blast through most of these levels because they are so close, and i would expect us to reach the R1 level before we start to see some pushback from the bears, even at that point though i think we could shred right through there after a couple attempts at the level. Looking at the MACD we are seeing a steady decline in the red bearish bars day after day and thats exactly what we want, bearish momentum draining out and giving the bulls that chance to really takeover. On the MA's we are seeing them getting pretty close together which is a good sign, meaning we are getting closer to a bullish cross, however there could still be a couple or few more days of decline due to the fact that the blue MA is slightly turning to the downside. The Wavetrend overall looks great, we are nearing the bottom zone which is the buy zone and we are seeing what looks like a sort of bottom out from this downtrend wave, like i said with the MACD we could still see a bit of a decline on the wavetrend but i really doubt we go much further, we want to keep an eye on those red crosses and as you can see we are pretty close to getting them underneath our wave to start giving us that push back up! Not financial advice just my opinion!
Long
by JacobR905
Ethereum New ATH!??Ethereum has been holding up very well during this pullback with us still able to hang onto some key levels, including this ascending channel, we are currently sitting on the bottom of the channel holding on strong and i think the market is starting to rebound, if you take a look at my last TA talking about the BTC hidden bullish divergence the same thing actually applies to Ethereum currently, ill let yall check that out for yourselves, refer back to my BTC TA and throw on the Stoch RSI on Ethereum and see if you can find it. Other than the divergence the market i think is ready for another leg up since we just saw a significant healthy pullback. Some key levels we are looking at here are the 0.2 FIB which we need to break soon, the R1 resistance slightly above the 0.2 FIB and the midline coming from the bollinger bands which is currently acting as resistance, if we can get above atleast the 0.2 and the BB midline we are going to be looking super bullish and the good thing is they aren't far away at all so our indicators like the MACD and RSI will barely be affected by a move like this. On the RSI we slightly took a dip below the midline but barely really an we are now seeing some upwards direction here with us just right underneath this midline, i think we aren't going to have any problems getting above here with ease and we can continue our confirmed uptrend! Also gotta keep an eye on ETH's Domiance in the market, we have had significant upside in the dominance and that definitely correlates with the big upswings in price action, we are likely going to see another big pump in price action and dominance level we are seeing respect on this uptrend support line and i think even if we fall a little bit more we are likely going to get a nice bounce which afterwards i would expect us to have a solid move to the upside! And remember ETH's dominance is a big deal with the Altcoins the higher ETHs dominance goes the more altcoins will follow ethereum rather than BTC! Not financial advice just my opinion!
BITSTAMP:ETHUSDLong
by JacobR905
ETH Dominance Pushing 20%Ethereums dominance is looking fantastic pushing upto the 20% level! igniting alt season as BTC dominance continues to fall! The MACD looks very good we are seeing a healthy green bar for our first on of this cycle after very recently getting that bullish cross! We are already seeing some good separation in the MA's and we will need to continue to see this if we want to have a big run up, lessening the chance of a near sighted bear cross. Now checking out the bollinger bands as you guys know i always talk about grabbing onto that top band, if we continue our push up there is a very good chance we will see this play out in the coming days, this will likely shoot up the dominance level to 20.74 aprx which is our recent high from back in early May. We are seeing good momentum coming from the wavetrend, we are almost pushing out of the bottom zone as we approach the midline soon, i personally think we have tons of room to run up here and it doesn't seem like anything is in our way! Not financial advice just my opinion!
CRYPTOCAP:ETH.DLong
by JacobR905
ETHBTC Explosive Breakout!ALTseason could be upon us, ethereum just had a beautiful breakout against BTC out of this descending wedge! We are currently facing some resistance at the 0.2 FIB but we did have a nice wick pretty well above here! We notice on the MACD we are in and out of a bullish cross and we gotta look for separation in the MA's once the bull cross happens, we need to see that momentum pick up, also the histogram looks great we are coming to an end with the red cycle and we are very close to breaking into that bullish territory, we want to see increasing green bars each day! Now checking out the bollinger bands, we are looking very good our current candle has touched the top band which is always very bullish and if we see this continue im sure we are going to melt up pretty hard, we do have some light resistance halfway through the 0.2 FIB and im sure if we take a ride up the bollinger bands it'll take us right there! Not financial advice just my opinion! ps. very important that we get a daily close above the 0.2 FIB, then we will be looking mega bullish!
Long
by JacobR905
ETH DOMINANCE READY FOR A RUN UP!!Checking out ETH's dominance we notice that it looks like we have found some decent support here at 18.20% and we are seeing a couple transition candles, one a couple days ago and another one in the making today, now if we can hold this support and have another green transition candle i think we are set to make another run up! First off id like to compare the ETHUSD chart shown in the first pane (orange) vs the eth dominance chart, as we can see i've marked the start of run ups with vertical lines and as u notice when dominance starts to rise up so does the ETH price, as shown in the first pane, we have been in a nice uptrend recently on ETHUSD and now that we have seemed to have found a bottom here i think we are going to continue this, now keep in mind if BTC falls off a cliff this TA probably wont be valid anymore! Checking out the MACD we are looking good and it seems like we are starting to see a pushback and eventually a bullish cross, histogram is getting real flat and not moving a whole lot anymore. The Stoch RSI looks very good we are starting to see what looks like a huge upswing and an upcoming bullish crossover, even better we are currently in the oversold zone and it doesn't look like we have really anywhere else to go but upwards! Same thing kind of for the RSI we aren't in oversold but we have dipped into the confirmed downtrend area but i don't like its going to last, i think we are gonna see a blast right through that midline back into uptrend territory, we aren't very far off the midline and we are moving upwards now pointing in the right direction! Not financial advice just my opinion!
CRYPTOCAP:ETH.DLong
by JacobR905
ETHUSDTSince the BTC showing a healthy correction (I have published it on my previous analysis), so the other coin like ETH will follow. On the 4h timeframe I have found a bearish divergence, so most likely it will touch the second bearish divergence target which is around 2888. Not only that, the 4h time frame also showing a potential double top pattern and if it happens, the double top target correction is also on 2888. In my opinion is just a normal correction before continuing the bullish uptrend. Target price for ETHUSDT is 3560, 4169, and break ATH.
by denniskurniawan
3
Ethereum to 5K!?Eth has undoubtedly been out performing the market recently after the mega bullish london and eip1559 upgrade went live, we are currently on our 19th green candle inna row! Now something pretty important for strictly ETH is the EMA ribbons, no one else in the market has managed to reflip the EMA ribbons back to bullish, and keep in mind this indicator is more long term rather than short, we have been able to get the green ribbons back ontop of the red which is very important, it shows the momentum is flipping back to the bulls and we have been seeing that for the last 20 days, if we can see the EMA ribbons fully spread out we will be in for a huge rally even bigger than we are seeing, as you can see to the left when the EMA ribbons started to open up bullish that is when we saw ETH shoot up to create that new ATH. We are also smashing through resistances like the R2 as the most recent and now we are on the push for that R3 or the 0.2 FIB level which is the last FIB before our ATH, we probably will see a rejection at the 0.2 FIB because it is a pretty strong level but if we keep up the momentum we will no doubt fly through at some point. Looking at the MACD we look very good we are seeing continued separation which is always key and we are showing no signs of slowing down, we are starting to point to the upside aswell, the histogram is looking okay we are sort of flattened out but our green bars are for the most part staying level with our previous ones so aslong as the MA's continue to shoot up and separate we are looking fantastic! Not financial advice just my opinion!
BITSTAMP:ETHUSDLong
by JacobR905
2
Ethereum Dominance set for new highs!!Ethereums been outperforming BTC recently with ETH's dominance starting to climb back up, i think we can easily expect new yearly highs for ethereums dominance based on how fast it is growing plus the soon to be deflationary asset will grow demand wise, we had a yearly high recently of about 21% and i think we are bound to make our way upto atleast the 22% level. We recently had a very nice breakout gaining lots of momentum but we do seem to be hitting some longer term resistance/support from back in 2017, and of course we will have lighter resistance coming from this years high. Looking at the bollinger bands we are continuing to fly up that top band with little to no sign of slowing down, we could continue climbing as the days go on, especially if we can smash through this resistance and hold it for a daily close. Checking out the MACD once again we are looking super bullish with no sign of slowing down, we see very big separation within the MA's the blue has completely shot away from the orange and we are now headed just about straight up! Histogram continues to look solid as we keep seeing growing green bars show that we definitely still have momentum, we look very very far away from a bearish cross here and overall i am very bullish on ETH short and especially long term, i think my guess at 22% dominance was a little bit conservative! Not financial advice just my opinion!
CRYPTOCAP:ETH.DLong
by JacobR905
BTC money flowing into ETH!!Ethereum has been showing very high strength recently pumping even while BTC falls in price, and as BTC dominance gets lower and lower the altcoins and ETH will start to really explode! we have blew past many key areas recently like the pivot point, the first level of resistance and now the 0.2 FIB level, if we can manage to hold the 0.2 FIB for daily close tonight we are looking hella hella bullish! we have been scaling up the top of the bollinger band, we could see a continuation and keep shooting up more and more, i feel like we might see a little break around this 0.2 FIB maybe just a day to build support and cooloff before flying back up. Or theres the case where we keep on moving up, looking at the wave trend we are not really even close to the sell or the top zone we still have quite some room to run up still, also we have seen before it doesn't always come down right away there is times where it hangs up in the top zone for a little bit, either way i am super bullish on ethereum especially after todays london and eip 1559 upgrade! ETH is being burned now all day everyday anytime there is an eth transaction! think about that, supply is going to start shrinking and the demand is already high and will most likely get higher and higher! Not financial advice just my opinion!
Long
by JacobR905
2
ETH BIG RUN ON THE WAY??!ETH has been performing amazing against BTC recently with a beautiful breakout of the descending triangle, also we have well passed the bullish pivot point a few days ago and we continue to hold it for the overall trend reversal. We are just beginning to take a ride up the top bollinger band with the past couple candles hugging that top band, if we continue to do this i think flying right through the 0.2 FIB is very very likely! looking at the RSI we are just about into the top overbought zone but starting to curl downwards a little bit, the only key thing we have to watch here is if we are able to continue to hold the midline or 50. point if we can continue to hold here we will be back into a confirmed uptrend! Looking at the wave trend oscillator we are looking very bullish actually we have just passed the mid point and our wave is showing no signs of slowing down, we could see a wave top even at the top of the zone before coming back down. Lots of BTC money flowing into ethereum for in my opinion the highly anticipated London hard fork upgrade and EIP 1559! Overall very bullish on ETH and DEFI right now with arguably the biggest crypto event in the world starting tomorrow (smartcon) we are likely going to see lots of good hype around ETH and DEFI in the coming weeks! Not financial advice just my opinion!
Long
by JacobR905