Ethereum - Descending channel is breaking down! 33% crash soon?
Hmm, the situation is grave indeed. Maybe a change of plan is needed!
On the daily chart we can clearly see an ascending channel or maybe a bear flag , but I prefer the channel. Ascending channels are bearish patterns, and this channel is very close to a breakout.
This is a bullish Elliott Wave count, and we need to complete an ABC correction to start a third impulsive wave upward! As you can see, we started this uptrend with a nice impulsive wave.
Now the question is, where is the support? You can use the 0.618 FIB or POC of the previous structure to set a limit buy order if you are a bull for the next major wave to the upside.
But I am bearish and it's possible that we reach even lower prices like 880 USDT in the immediate short-term.
Because ETH is far more powerful than BTC , Bitcoin can fall dramatically while ETH only slightly.
I expect tremendous gains for GLM. You can find this altcoin in the related section down below.
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ETHBTC
Inverse Cup and Handle Spotted on EthereumTBH Traders, Ethereum is not looking good right now from a technical standpoint:
#1 - Still haven't reached the target down area from the larger H&S pattern
#2 - Trend is still overall downward
#3 - Inverse Cup and Handle Pattern now formed
We are currently sitting on critical support which is also the neckline of the inverse C&H. If that breaks, target down area is at least $1000. Watch this closely!
Stew
Ethereum will fall hardRead the text carefully:
If we reach the red box that is 2100-2400 USDT, it is an excellent area for short position
In general, the path that Ethereum will follow for the coming months and weeks will be a deep and heavy fall towards $500-$350.
This drop is not specific to Ethereum and I think the entire crypto market will undergo a heavy correction.
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ETHBTC Bearish Cross on MACDThis is yet another chart on the 3D time-frame, which time after time has proved to be reliable in catching medium-term price trends. This time on the ETHBTC pair, the 3D MACD just formed a Bearish Cross. As you see, since the June 06 2021 candle (so more than a year), every such formation (with the exception of August 20 2021) was a sell signal. I have pointed out key Support zones with the first one being around 0.06500.
Since the pair has been on a Channel Up patten since mid August and the price is now too close to its bottom (Higher Lows trend-line), it is worth attempting a tight SL buy but reverse to a sell if the price breaks below the Channel. On the longer-term, the Bearish Cross effect will be invalidated if the pair breaks above its 0.088640 Resistance (previous market High).
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ETHUSDT - Buy the Rumor, SELL the News📈Hi Traders, Investors and Speculators 📈📉
Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. Daytime job - Math Teacher. 👩🏫
As you will see in all crypto news, there are countdowns everywhere to the Ethereum Merge. As of right now, we're standing on 1 days 15 hrs 45 mins . (Estimated based on difficulty and hash rate). What ever your personal beliefs are about this merge, is irrelevant. The only thing to remember, is this old trading saying : Buy the rumor, sell the news. We can already confirm this on the charts by spotting a failed breakout at support zone $1670 , after the bearish head and shoulders pattern. A trade setup can be taken if the daily closes UNDER resistance. A Long could be considered if the daily closes ABOVE resistance, but I'm leaning towards the short setup.
Here's my take on Bitcoin, and a free Chart Analysis masterclass in 7min on trendlines :
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ETH - RSI Target 65.46 / $2,500A little experiment as I'm keen to make the next the sell target on ETH more challenging.
Purley based on RSI my estimate is $2500.
- RSI target coincides with the retest of ascending resistance back end of March 2022 - Circled in Orange/tip of Bear Flag. Matching this level would not result in a similar price range but rather price at the resulting horizontal resistance - Red horizontal line
Overlaying a few other indicators the target checks out:
- The descending resistance line form 2021 coincides with this target - Yellow Dotted line
- There is the 200DMA running through - which ETH should break briefly
- ETH/BTC would be around 0.07 if the price target is reached which is effectively the retest of the ascending resistance
- Coincides with my BTC target of $41k
Assuming this is realised, from here I'll be short back on the final wave back to $1000 price range. This $2500 will form a significant resistance target to break when ETH revisits mid 2023.
Just and Idea.
Best, Hard Forky
BTC Long after 8 Months of Shorting
ETH/BTC Target - retest of ascending resistance
ETH Hard 15min Chart Bounce Into A Lambo Monday Run?ETH/USDT 15m chart John Wicked to 314ma and found support quickly at 200ma. Somebody hit sell hard, But ETH showed them it's Pimp Arm was strong and would not be dumped.
Wondering if Monday will see some ETH Lambo action. I have a buy in with tight stop. It it plays out my Lambo plate will be just "ETH"
Ethereum Tehnical Analysis Update#Ethereum Technical Analysis:-
$ETH currently trading around $1770
And 100% up from Bottom level.
What Next..?
There are 2 Scenarios so keep an eye on below Scenarios:-
Scenario 1:- Currently Trading around resistance level and another Resistance is $2000
If Failed to Break this Resistance then we can see again $1000 Level.
But
Scenario 2:- If price Break out with Good volume then we can see $$2600/$3500 Levels.
IMO small Pump before another Crash.
But If break $2000 level then We can see upward relly.
Support:- $1400/$1000
Resistance:- $2000/$2500/$3466/$4774
again and againHello, Bitcoin came exactly to 18600 and went up. Now it has reached 21800. How was my analysis?
My previous analysis was completely correct, 100% correct
I wish I could be seen. I understand everything with math
I see the market as a bull at the moment, but we will probably have a correction until 20500-19500 and then it will reach its first target, it may continue without correction.
ETHBTC- Ethereum Could be next to RiseWishes for a nice weekend to all.
Ethereum Merge / Countdown
4 days 18 hrs 23 mins
We have covered the upcoming merge for Ethereum on this post :https://www.tradingview.com/chart/ETHUSD/jgaIXsUs-ETHEREUM-The-Queen-s-HUGE-Crypto-move-the-Merge/
On this chart ETHBTC is clearly on support. I had told my close friends here that Bitcoin was better looking on Thursday and Ethereum could wait and this is what happened.
ETHBTC could rise 6 to 9% coming forward
At this stage: my focus is on Ethereum. Will post ethereum chart next.
One Love,
the FXPROFESSOR
#ETH/USDT 1DAY UPDATE !!Hello dear traders, we here new so we ask you to support our ideas with your LIKE and COMMENT, also be free to ask any question in the comments, and we will try to answer for all, thank you, guys.
ETH UPDATE:-Ethereum is moving within a descending channel (in blue) on the daily chart. This resistance line has prevented further growth since registering its all-time high. When the price last hit the channel’s top in August, it suffered a drop to $1,422 as a consequence.
The scenario for the Relative Strength Index (RSI 30d) is comparable. The descending line (in white) that has formed over the last 12 months is acting as resistance.
To fulfill the two important goals — breaking out of the channel and overcoming the horizontal resistance at $1,800 — the bulls must now drive the price above that level (in red). This coincides with gaining momentum above the descending line in the RSI.
On the other hand, if the Merge turns out to be a sell-the-news event, investors should be ready for heightened pressure that could send the price back to $1350 and even lower.
Support Levels: $1420 & $1350
Resistance Levels: $1800 & $2100
This is not a piece of financial advice. All investment made by me is at my own risk and I am held responsible for my own profit and losses. So, do your own research before investing in this trade.
Sorry for my English it is not my native language.
Hit the like button if you like it and share your charts in the comments section.
Thank you
Weekly Analyze of the Crypto Investing in September, 2022Date: Sep 5, 2022 — Sep 9, 2022
The crypto market recovered this week, and the market also started a rebound mode after the retracement adjustment.
The BTC weekly line dropped for the second time, and turned positive after reaching the low point on the left at 18500. Structurally, a preliminary form of double bottom has been constructed, with a critical position of 21500. When the daily line converged and broke down, the decline did not continue but rebounded and broke the downtrend line suppression. The first resistance range is 20800-21200, and the extension range is 21500-22000;
ETH's weekly line maintains a positive rhythm. The daily line made a false breakthrough up and down at the end of the convergence, and then chose to continue the trend of oscillating and rising in the channel upwards. The pressure conversion point of 1600 has become the first defensive position of the current trend. The support range is 1500-1550, and the pressure range is 1850-1900.
Vtrading is a crypto trading platform providing smart coin trading strategies for every trader. If you are using Vtrading smart crypto trading bots, the Grid and Martin strategy are suggested for spot market, and the SMT strategy for futures market.
(All for reference only, plz invest rationally)
Ethereum approaching resistance?Ethereum
Intraday
We look to Sell at 1709 (stop at 1744)
Daily signals are bearish. Bespoke resistance is located at 1700. We look for a temporary move higher. Preferred trade is to sell into rallies. 1718 has been pivotal.
Our profit targets will be 1622 and 1592
Resistance: 1650 / 1700 / 1750
Support: 1600 / 1550 / 1500
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Ethereum Analyze (Short term/Timeframe 15min)!!!⏰Ethereum broke the Trend line and now it seems that it was able to complete pullback.
I expect that Ethereum can go up around 3.7%(maybe more) from the Trend line to the Important Resistance line.
Ethereum Analyze ( ETHUSDT ) Timeframe 15min⏰(Log Scale)
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