🚧Ethereum Analysis(Three Falling Peaks Pattern)🚧🎄Merry Christmas!
💫Happy Holidays! I hope all of your Christmas wishes come true.
✅ Ethereum(ETH) managed to form a Three Falling Peaks Pattern near the 🔴 Heavy Resistance zone($2,540_$2,300) 🔴 and 🟡 Price Reversal Zone (PRZ) 🟡.
📚What is the Three Falling Peaks Pattern❗️❓
🔸 The three falling peaks pattern consists of three peaks and two valleys of give or take equal size. The pattern has a downward slope meaning that each peak is lower than the last, and the same applies to the valleys.
🔸The three falling peaks pattern validly forms when, after the last peak, the price falls below the second valley signaling a market reversal and a large price drop.
🔨Also, Ethereum managed to break the Support line and 🟢Support zone($2,270_$2,245) 🟢.
🔔I expect Ethereum to continue its decline towards the next 🟢Support zone($2,167_$2,116) 🟢 after completing the pullback to the 🟢Support zone($2,270_$2,245)🟢 and Support line .
❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed.
Ethereum Analyze ( ETHUSDT), 1-hour time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.
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Ethereumsignal
Scenario of changing the Ethereum trend !🧐After hitting the daily resistance, and also ending the trend in the daily time period, we see the price hitting the floor of the channel of the 1-hour time frame, more than 2 times.
After breaking the lower support line of the channel, a drop with price targets up to $1,500 can be expected.
In the 4-hour time frame, the bottom of the major ascending channel is in the price range of $1,550, which is the main and final target of the fall in the next 24 hours.
Then, after breaking the support of the 4-hour channel, it hits at least $1,500.
The completion of this scenario causes a downward trend and the formation of a continuation of the long-term downward trend in the daily charts.
To enter a sell trade, the best area is below the lowest price in the 1-hour and 2-hour candles in the past 6 hours, around $1707
And keep in mind that Bitcoin price uses the same scenario to drop the price, which causes the coins to drop more.
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Ethereum forecast and signalLearn and Earn!
after reaching the resistance line ( first target ), we have two scenarios,
first: directly growing and hitting the last target.
two: pullback and reach the stop loss.
So after hitting the first target (which is a resistance line in this position too), close half of your trade and move the stop loss to the entry price.
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Pay attention!
First: Trades have a time term , and in this case, it's from now until the next 12 hours. (You can also see it in the diagram)
Second: You can see the entry price in the chart.
Before the price crosses the mentioned place, the trade position is not Active.
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Please write any advice or suggestions.
Dear friends, request any cryptocurrency pair, currencies pair for forex, and any index that you want to be analyzed and ask any questions.
Thanks for your attention
Ethereum forecast / Signal updateAs you can see, the price entered a neutral channel since last night.
Now we see two paths for the price, ascending and descending depending on the conditions (it is 50-50).
If the resistance breaks at the top of the channel and the break is confirmed, it will continue to move bullish.
In case of failure of support at the bottom of the channel, the direction will be changed and bearish.
The probability is 50-50 in terms of technical analysis, but in terms of fundamentals and of course the volume of buyers, I think it is 60% bullish.
ETH forming a triangle patternEthereum is in a long-term bearish channel. The main support range for Ethereum is between $2350 and $2400, which if we lose this support level, the price could drop to at least $2160 again. In the daily time frame, Ethereum has formed a triangle pattern that breaking this pattern upwards and stabilizing above it, and also above resistance at $2730 can push prices up to the main resistance range, and crossing the main resistance range and stabilizing above it can bring Ethereum back to the bull market. We have to wait for one of the surfaces of the triangle pattern to break to determine the direction of price movement.
ETH Ethereum: 1D Chart UpdateHello friends, today you can review the technical analysis idea on a 1D linear scale chart for Ethereum (ETHUSD), a cryptocurrency.
The chart is self-explanatory. Ethereum price is currently trading in the Fibonacci Golden Pocket zone and in a high trading area of the VPVR (Volume Profile). The Ichimoku Cloud shows green clouds for upcoming support. RSI also shows support for a potential move up. Volume is low and Stoch RSI is oversold. If price moves up, keep an eye on the 0.786 Fibonacci level. If the price falls, keep an eye on the 0.382 Fibonacci Retracement level.
Shown: Ichimoku Clouds , RSI (Relative Strength Index), Stochastic RSI (Stoch RSI), Fibonacci Extension , Volume Profile (VPVR), Support and Resistance Trendline, 200 EMA, and Volume.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk