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Ethereumshort

Ethereum in an area of resistanceEthereum is now testing an area of resistance (Multiple 61.8% Fibonacci retracement, 76.4% Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and a strong reaction could occur at this area to push price down towards support level at 583 (Fibonacci retracement, horizontal swing low support). Stochastic (55,5,3) is dropping nicely with good downside potential that could correspond to the drop in price too. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
BITFINEX:ETHUSDShort
by Tickmill
5
Ethereum testing major resistance area!Ethereum is now testing our major resistance area at 717 to 748 (61.8% Fibonacci retracement, 61.8% Fibonacci extension, horizontal overlap resistance area, bearish price action) and a strong drop could occur at this level to push price to at least 583 support (Fibonacci retracement, horizontal swing low support). Our next major level of resistance is at 809 (Fibonacci retracement, horizontal breakout resistance level). Stochastic (34,5,3) is seeing strong resistance below 97% where a corresponding drop could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
BITFINEX:ETHUSDShort
by Tickmill
2
Advise CautionAs we all know, ETH has had an extremely bullish over the last month with very little retracement. However based off TA, it appears that ETH may have hit its' "short term" top. I say this because a bearish wedge has formed at the top, and the RSI indicator is showing signs of divergence. This could mean that at least somewhat of a correction is likely. I say somewhat because if you look at my previous ETH chart, ETH has shown signs of weakness in the past yet it has pushed right through. However, IF ETH breaks the bottom of the current wedge, I plan to short for a quick scalp none the less. My first target would be the top of the Retracement Zone where I would likely take profit. From there I would again wait for another signal, and a break in that level to short again, placing us into the "Retracement Zone." This zone would not indicate a bear market at all, it would only be a healthy, and I believe, much needed correction for ETH. The market will likely find a lot of support in the zone. The lower price would likely attract new investors, which could eventually lead us to new highs. IF (big IF) we would fall into the Reversal Zone, I would close all long term investments. This would be a very dangerous move on ETH's behalf, as it would likely entice panic throughout the market. I do not expect this to happen at all, just informing you all of the possibilities. Summary: Even though the market remains extremely Bullish, it is still due for a healthy correction. Therefore, IF ETH starts a retracement, I suspect it to be minor with a final target no lower than $355; until noted otherwise. IF ETH fails to break the wedge, and the market remains full Bull, we will likely test the previous high, along side the top trendline. DISCLAIMER: Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
Short
by oh92
13
Strong Ethereum Depreciation: -15%!Yesterday’s break of support level in $225 area, then the June low at $218 and in the end psychological support of $200 were just a start of Ethereum falls. Today ETH/USD lost 15% of value which brought attention of all cryptocurrency traders. There is a reason for that. Ethereum is second most popular cryptocurrency in the world, just after more popular Bitcoin. Market capitalization of ETH is more than $18B. No wonder that huge swings on Ethereum chart are widely commented. Yesterday's break was in pair with higher volume confirming strength of the signal. Today’s losses are just a continuation of yesterday’s sentiment. It seems like ETH/USD found some support in 174.50 area. There is outside retracement of last bearish impulse, however the problem is this level is not confirmed by price. Even better level from technical point of view is 121.00 zone. Price in the past treated these areas as solid support, and it is strengthened by Fibonacci retracement should stop sellers one more time. 200.00 area which was solid support in the past now should be treated as resistance.
EShort
by Comparic